FDIC clamps down on ‘significantly undercapitalized’ Old Glory Bank

T2Covered by 1 source · first reported by Payments Dive / Banking Dive at 28 Sept, 15:38 UTC

Old Glory’s latest call report showed the bank’s leverage ratio was 2.69%. The bank failed to respond to a notice of intent that regulators would issue a directive for prompt corrective action, the FDIC said.

fintechpolicy

Sources

• T2FDIC clamps down on ‘significantly undercapitalized’ Old Glory BankPayments Dive / Banking Dive28 Sept, 15:38