Federal Reserve examiners failed to rein in practices that led to losses from excessive real estate lending at two banks in California and Florida that later closed, the central bank’s inspector general said.
Riverside Bank of the Gulf Coast in Cape Coral, Florida, “warranted more immediate supervisory attention” by the Atlanta district bank, Fed Inspector General Elizabeth Coleman said in a report to the central bank’s board. In overseeing County Bank in Merced, California, the San Francisco Fed should have taken a “more aggressive supervisory” approach.
Fed Failed to Curb Flawed Bank Lending, Inspector General Says
More than a dozen newborn lambs cavorted around a fenced-in yard beneath the scrutiny of their...
David West raised four kids in Los Angeles working as a Hollywood cinematographer — no mean...
Maggie was faced with a tough choice in February 2025: quit her job at the US...
The US labor market picked up in March as employers showed signs of resilience amid the...
