Daily Coffee
FDIC Appointed as Receiver for Tioga-Franklin Savings Bank in Philadelphia. The Pennsylvania Department of Banking and Securities has closed Tioga-Franklin Savings Bank in Philadelphia and appointed the FDIC as receiver. Second Federal Savings and Loan Association of Philadelphia will assume all of Tioga-Franklin Savings Bank’s deposits and purchase substantially all of its assets. The FDIC estimates the cost to the Deposit Insurance Fund will be about $5.5 million. Read the FDIC’s announcement.
August 24, 2026
Treasury Proposes Investment Rules for Trump Accounts. The Treasury Department and IRS have proposed rules regarding eligible investments for Trump Accounts in the period before the beneficiary turns 18. The proposal would limit eligible investments during this period to mutual funds or exchange traded funds meeting long-term growth criteria, with low annual fees and expenses. Read the announcement and proposed rule.
August 21, 2026
Treasury Proposes Framework for Payment Stablecoin Activity. The Treasury Department has proposed regulations to implement a section of the GENIUS Act to limit who may issue, offer, or sell stablecoins. The proposed regulations clarify that foreign payment stablecoin issuers must comply with the Act’s requirements, describe examples of participating in an unlawful issuance that would be subject to criminal penalties, and more. Read the announcement and proposed rule.
August 18, 2026
More Compliance News