Review of FDIC OIG report on Metropolitan Capital Bank's failure
Metropolitan Capital Bank & Trust (MCB) failed in January 2026. I covered the failure in a previous episode, but this episode covers the FDIC Office of Inspector General (OIG) report that reviews what they believe caused the failure. The ongoing problems at MCB have been documented. The OIG report concluded that bad loans from poor internal oversight, governance, and risk management led to critically deficient capital levels and thus bank failure. The FDIC identified suspicious activity associated with bank insiders confirming their misuse of position and the self-dealing of senior bank…
The skinny
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