fdic

FDIC probe reveals toxic workplace culture and questions chairman’s credibility

by

An independent review of the Federal Deposit Insurance Corp. ‘s workplace culture describes an environment that fostered “hostile, abusive, unprofessional, or inappropriate conduct,” and questions whether the agency’s chairman is credible to lead the agency through a cultural transformation. The report released Tuesday by law firm Cleary Gottlieb Steen & Hamilton outlines incidents of stalking, … Read more

Philly lender Republic First Bancorp seized by feds in latest regional bank collapse

by

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp. said Friday, underscoring the challenges facing regional banks a year after the collapse of three peers. The Philadelphia-based bank, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department … Read more