An internal memo sent Monday aligns with earlier reports that the Department of Government Efficiency was targeting the FDIC for staff cuts. Cuts at another agency, the CFPB, remain up in the air after a judge blocked them.
Instead of requiring a bridge bank strategy, the FDIC wants large banks to describe one or more potential resolution strategies the regulator could execute, it said Friday.
Credit unions are experimenting with a number of strategies in 2025 to stay competitive. Explore how they have outpaced banks and online lenders in small-business customer satisfaction in this Trendline.
A 200-person workforce would allow the bureau to fulfill statutory obligations “and better aligns with the new leadership’s priorities and management philosophy,” attorneys for the agency said.
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