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Thread Bank Responds to FDIC Enforcement Action



Sources: Warriors signing De'Anthony Melton to one-year deal

That's right! The Golden State Warriors are bolstering their backcourt with the addition of De'Anthony Melton. Here's a quick rundown:
  • Melton signed a one-year deal worth $12.8 million [NBA free agency reports].
  • He fills the gap left by the departure of veteran guard Klay Thompson [NBA free agency reports].
  • The 26-year-old guard is known for his defense and athleticism [De'Anthony Melton stats].
  • However, a back injury limited him to just 38 games last season [De'Anthony Melton stats], making it a bit of a gamble for the Warriors [Warriors sign De'Anthony Melton].

Overall, it's a move that adds depth and youth to the Warriors' backcourt, but Melton's health will be a key factor in how much he can contribute.


ere's a summary of Thread Bank's response to the FDIC enforcement action:

Focus on Compliance and Improvement

  • Thread Bank emphasizes its commitment to meeting all its regulatory obligations [Thread Bank Responds to FDIC Enforcement Action, PYMNTS.com].

Prior Investments in Compliance

  • The bank highlights that it has already been making significant investments over the past three years to improve its policies and procedures [Thread Bank Responds to FDIC Enforcement Action, PYMNTS.com].

Collaboration with Regulators

  • Thread Bank states that these improvements were made in collaboration with the FDIC and the Tennessee Department of Financial Institutions (TDFI) [Thread Bank Responds to FDIC Enforcement Action, PYMNTS.com].

Scope of the Order

  • While some reports focus on the Banking-as-a-Service (BaaS) aspect of the order, experts suggest it's broader, encompassing strategic planning, risk management, and anti-money laundering/counter-financing of terrorism (AML/CFT) controls [Margaret Tahyar quoted in Banking Dive on FDIC's enforcement action against Thread Bank, davispolk.com].

Overall Tone

  • Thread Bank's response seems professional and focused on demonstrating its commitment to compliance and improvement.

It's important to note:

  • The FDIC order requires Thread Bank to implement corrective measures without admitting guilt for any wrongdoing [Thread Bank Responds to FDIC Enforcement Action, PYMNTS.com].

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