FDIC declares Cross River taken part in ‘unsafe’ loaning practices By Cointelegraph

The Federal Deposit Insurance Corporation (FDIC) has actually asked for Cross River Bank — understood for its services to fintech and crypto companies like Visa (NYSE:) and Coinbase (NASDAQ:) — to “self-correct” and properly address weak points in its loaning activities.

On April 28, the FDIC revealed a permission order carried out with Cross River Bank on March 8, which declared that the bank participated in “unsafe” or “unsound” banking practices concerning its compliance with relevant reasonable loaning laws and guidelines in 2021.

The FDIC carried out the permission order with Cross River Bank on March 8. Source: FDIC