A cash exchange of $1,000 at a check casher or similar business in parts of Texas and New Mexico now triggers a federal report, a floor ten times lower than the one that normally applies. The Financial Crimes Enforcement Network, the Treasury bureau that polices illicit finance, set the lower floor in a geographic targeting…

Nano Banc, a one-branch bank in Irvine, California, was closed on September 25, 2026, and Sunwest Bank agreed to assume substantially all of its deposits. The bank held $686 million in deposits and $736 million in assets as of June 30, 2026. The Federal Deposit Insurance Corporation was named receiver, and its announcement says Nano…

When a bank invokes one of the Regulation CC exceptions to delay a deposit, federal law does not leave the depositor guessing. Paragraph (g) of the funds-availability rule requires a written notice, and that notice has to carry five defined pieces of information. A notice missing the amount, the reason or the release period is…

When a bank decides a deposited check needs more time than its normal schedule, federal rules do not let the hold happen silently. Regulation CC requires a written notice that names five specific things, and the rule’s own wording is short enough to quote in full. The same section sets the dollar thresholds that let…

The Trump Accounts program’s official site carries a headline saying Michael and Susan Dell will put $250 into 25 million children’s accounts, and Dell is pledging those deposits as a private gift, not a federal one. The pledge reaches only children who meet its own rules. The federal features of the accounts appear on the…

The House has passed a revised version of the Common Cents Act, H.R. 10167, which would end production of the penny and round cash purchases to the nearest five cents. The House acted by voice vote on Sept. 15, 2026. The bill is not law: no signing had been reported as of Sept. 30. Where…

E*TRADE, part of Morgan Stanley, is advertising a 4.25% annual percentage yield on new money in its Premium Savings account for the first six months, plus cash bonuses of up to $800 on large deposits, through Jan. 10. As of Sept. 30, 2026, the bank’s own page still showed those terms. The 4.25% is a…

Old Glory Bank, based in Elmore City, Oklahoma, is operating under an FDIC order. The bank reported $268.7 million in deposits and $7.5 million in Tier 1 capital on its June 30, 2026 call report. It remains open, and its deposits stay covered by FDIC insurance up to the standard $250,000 limit. A supervisory directive,…

Bank money market accounts pay an average of 0.63%, according to the national rate series built from FDIC data. Money market funds, a different product with a similar name, are yielding about 3.65% on Crane Data’s index of 100 large funds. The gap is 3.02 percentage points, and the fund side comes with a disclosure…

The Federal Deposit Insurance Corporation expects Nano Banc’s collapse to cost its insurance fund about $114 million, even as the failed California bank’s depositors move over to Sunwest Bank without losing access to their money. The estimate comes from the FDIC itself, reported by the American Bankers Association’s Banking Journal, and reflects the gap between…