Company Information

Get to know Seaway Financial

Originally founded in 1965 as Seaway National Bank of Chicago, it grew to become one of the largest Black-owned banks in the United States. For decades, it was a cornerstone of Chicago's South Side community, providing crucial financial services and support. In 2017, the original bank failed and was closed by regulators. Its assets and deposits were acquired by State Bank of Texas, which continues to operate the branches under the historic "Seaway" brand name, maintaining its mission of community banking.

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Financial BankingPRIMARY
Financial Other Service

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Seaway Financial

United States

Founded in

1983 (43 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.