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Fed orders fintech bank holding company to address ‘significant deficiencies’
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Banking, Financial Stability, Nonbank Financial
Friday, July 26, 2024
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Jiko Group Inc. agreed to a cease and desist order issued by the Federal Reserve after examiners identified “significant deficiencies” in the San Franscisco-based fintech’s financial condition. Jiko owns a national bank and various nonbank subsidiaries that develop and service technology platforms for broker-dealers.
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