Federal Reserve Acts on Customers Bank’s Digital Assets

The Federal Reserve has initiated enforcement action against Customers Bank concerning its digital assets practices, as reported by Ledger Insights. The regulatory action highlights concerns over the bank’s handling and management of digital assets, signaling increased scrutiny in the financial sector regarding digital and cryptocurrency-related activities. The specifics of the enforcement measures and the implications for Customers Bank’s operations in the digital assets space were not detailed in the summary. This development underscores the ongoing regulatory focus on ensuring compliance and risk management in the rapidly evolving digital finance landscape.