California regulators closed Nano Banc on September 25, 2026, and the Federal Deposit Insurance Corporation turned to Sunwest Bank to take over the failed lender’s accounts. The Irvine-based bank’s roughly $686 million in deposits move to Sunwest Bank, based in Sandy, Utah, without depositors needing to open new accounts to keep insured balances protected. For…

More than 50 companies had committed to contributing money into their employees’ children’s Trump Accounts, the U.S. Department of the Treasury said in a pair of statements this summer. Treasury first announced the figure when the accounts formally launched July 4, 2026, and repeated the identical count more than a month later, on August 11,…

Three federally insured credit unions have shut down since the start of the year, each one small, and each one wound down under a federal safety net that most members never think about until the day it activates. In every case, the National Credit Union Administration took control, closed the institution, and made sure verified…

For years, bank customers who lost a checking or savings account with no warning ran into the same wall: the bank cited “business reasons,” declined to elaborate, and pointed to fine print in the account agreement. Congressional hearings on debanking spent nearly as long examining the other side of that wall — testimony describing federal…

A small Philadelphia savings bank closed its doors last month, and by the following business day every checking and savings account it held had a new owner. Tioga-Franklin Savings Bank, a single-branch lender, was taken over by Pennsylvania regulators on August 21, making it the fifth bank to fail in the United States this year.…

A credit union chartered before World War II and a credit union serving 183 members tied to a single community organization shut down for the same underlying reason this year, five months apart, and neither event cost an insured saver a dollar. Federal regulators closed three credit unions in 2026 to date, and in two…

No member of a federally insured credit union has ever lost a single penny in an insured account, according to the agency that runs the backstop behind nearly all of them. The National Credit Union Administration also says that once a credit union closes, verified member shares are typically paid out within five days —…

A change buried in last year’s tax law is now reshaping a corner of employee benefits that has quietly tripped up thousands of workers: signing up for a direct primary care membership, the flat-fee subscription model some doctors use instead of billing insurance, used to mean losing the right to fund a health savings account.…

Federal banking regulators have rewritten one of the oldest and vaguest phrases in bank oversight: “unsafe or unsound practice.” For decades, examiners leaned on that phrase to flag almost anything about how a bank ran itself, from thin paperwork to slow fraud controls, often without a fixed legal definition to point back to. A new…

A credit union chartered just four years ago to serve overlooked pockets of Kansas City no longer exists as its own institution. The National Credit Union Administration confirmed that WeDevelopment Federal Credit Union, which held 1,015 member accounts and $2.4 million in total assets, has been absorbed into CommunityAmerica Federal Credit Union, a Lenexa, Kansas…