Fintech Nexus Newsletter (January 29, 2024): Blue Ridge Bank Is In "troubled Condition" According To The OCC

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यह केवल था गुरुवार of last week when our lead story was about the challenges banks were facing in the Banking-as-a-Service space.

Then Friday we learned that Blue Ridge Bank was hit with its second regulatory action in less than 18 months and is now deemed to be in a “troubled condition”.

Kudos to our unofficial fintech regulatory watchdog, Jason Mikula, for breaking इस कहानी. American Banker also इसे उठाया शुक्रवार को.

Blue Ridge Bank is a $3.3 billion-asset bank based in Virginia and was an early mover in the BaaS space. The consent order came out of the OCC’s June exam and Blue Ridge claims to have made significant progress since then.

The banks needs to ramp up its AML controls, capital position and third party management.

It is interesting that industry expert Jonah Crane said “every bank with a large BaaS program will see some type of regulatory action over the next year.”

For the fintech companies that rely on these banks for banking services, this is bad news. Building redundancy into your banking partnerships is now essential.

विशेष रुप से प्रदर्शित

OCC says Blue Ridge in ‘troubled condition’ over BaaS

कैथरीन लेफ़र्ट द्वारा

The Virginia bank is one of three that have been publicly admonished by regulators this week due to problems related to their banking-as-a-service programs.

फिनटेक नेक्सस से

> आपका B2B ग्राहक वास्तव में क्या चाहता है

टोनी ज़ेरुचा द्वारा

As B2B payment technology catches up to other areas of fintech, TreviPay CEO Brandon Spear said exciting trends are emerging. In late 2023, TreviPay released the B2B Buyers Payments Preference Study. It updates similar research conducted in 2019.

> भुगतान रेल का विकास: वित्तीय सेवाओं के भविष्य को आकार देना

By Sameer Danave

The payments landscape is undergoing a significant shift right way with new payments rails gaining more market share. And we have only just begun.

पॉडकास्ट

Podcast: Building modern digital lending across Capital One, Barclaycard, Funding Circle, and TRIVER, with TRIVER CEO Jerome Le Luel

हाय फिनटेक आर्किटेक्ट्स, हमारी पॉडकास्ट श्रृंखला में आपका फिर से स्वागत है! उन लोगों के लिए जो आपकी पसंद के ऐप में सदस्यता लेना चाहते हैं, आप कर सकते हैं…

सुनो अब

समाचार भी बना रहे हैं

हमारे न्यूज़लेटर्स को प्रायोजित करने और अपने संदेश के साथ 220,000 फिनटेक उत्साही लोगों तक पहुंचने के लिए, हमें यहाँ से संपर्क.

पीटर रेंटन फिनटेक नेक्सस के अध्यक्ष और सह-संस्थापक हैं, जो फिनटेक पर केंद्रित दुनिया की सबसे बड़ी डिजिटल मीडिया कंपनी है। पीटर 2010 से फिनटेक के बारे में लिख रहे हैं और वह इसके लेखक और निर्माता हैं फिनटेक वन-ऑन-वन पॉडकास्ट, पहली और सबसे लंबे समय तक चलने वाली फिनटेक साक्षात्कार श्रृंखला।

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