News & Analysis as of

Enforcement Actions Federal Deposit Insurance Corporation Banks

Orrick, Herrington & Sutcliffe LLP

FDIC publishes its enforcement actions for June 2025

On July 25, the FDIC announced a list of administrative enforcement actions it took in June against banks and individuals. The announcement highlighted that, during June, the FDIC issued 17 orders consisting of: one...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues its 2025 Consumer Compliance Supervisory report

On July 3, the FDIC released its 2025 edition of its Consumer Compliance Supervisory Highlights report. The report described the FDIC’s aggregated findings from approximately 800 consumer compliance examinations conducted in...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues enforcement actions for May 2025

On June 27, the FDIC published a list of administrative enforcement actions taken against banks and individuals in May. According to the FDIC, the Corporation issued 12 orders and two notices, including one consent order, one...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases list of recent enforcement actions

On May 30, the FDIC published a list of administrative enforcement actions taken against banks and individuals during the month of April as well as two decisions from 2024 that were omitted from previous FDIC publications....more

Sheppard Mullin Richter & Hampton LLP

FDIC and Maryland End Joint Consent Orders Against Regional Bank

On April 7, the FDIC and the Maryland Office of Financial Regulation terminated two consent orders against a regional bank headquartered in Maryland. The termination concludes joint federal and state enforcement actions that...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases February enforcement actions, terminates 100 waivers

On March 28, the FDIC released a list of administrative enforcement actions taken against banks and individuals last month. During February, the FDIC issued seven safety and soundness orders, including one order terminating a...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases December 2024 enforcement actions

On January 31, the FDIC released a list of 18 administrative enforcement actions taken against banks and individuals in December 2024. The public orders comprised 14 stipulated orders and written agreements (and one...more

Goodwin

What’s Next for Fintechs in 2025? Key Regulatory Developments to Watch

Goodwin on

With the start of the new year comes new regulatory priorities, regulatory challenges, and regulatory opportunities for fintechs. Below, we lay out considerations for 2025 given the change in administration and accompanying...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases October 2024 enforcement actions

On November 29, the FDIC released a list of administrative enforcement actions taken against banks and individuals in October. Specifically, the October actions included a consent order to address alleged unsafe and unsound...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases September enforcement actions

On October 25, the FDIC released a list of administrative enforcement actions taken against banks and individuals in September. During the month, the FDIC made public ten orders consisting of “four consent orders, four orders...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases seven enforcement actions for August 2024

On September 27, the FDIC released a list of eight administrative enforcement actions, like cease and desist orders or stipulated orders, taken against banks and individuals in August. The public orders comprised of seven...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues May 2024 enforcement actions

Recently, the FDIC released a list of administrative enforcement actions taken against banks and individuals in May 2024. During that month, the FDIC made public 15 orders consisting of: a combined personal consent order and...more

Sheppard Mullin Richter & Hampton LLP

Oklahoma Bank Faces FDIC Consent Order

An Oklahoma-based bank has been hit with a consent order from the FDIC after posting significant losses in its first year of operation. On June 28, the FDIC announced that it took an enforcement action against the bank...more

Venable LLP

Crystal Clear: New Guide on Third-Party Risk Management for Community Banks - and Others

Venable LLP on

It is no secret that the Federal Reserve, the FDIC, and the OCC have zeroed in on banks' use of third parties for products, services, and other operations, the risks those arrangements may pose, and banks' responsibility to...more

Ballard Spahr LLP

Recent FDIC Consent Orders Reflect Ongoing Scrutiny of Bank Relationships with Fintechs

Ballard Spahr LLP on

In February 2024, the Federal Deposit Insurance Corporation (FDIC) entered into consent orders with two banks who partner with fintechs to offer “banking as a service” (BaaS) related to safety and soundness concerns relating...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues February enforcement action against New York bank for lack of effective third-party oversight

On March 29, the FDIC released its list of February 2024 enforcement actions, which included a consent order against a New York digital bank in which the FDIC alleged a lack of sufficient oversight of the bank’s third-party...more

Troutman Pepper Locke

FDIC Announces Two More Consent Orders Containing Third-Party Risk Management and Fintech Partnership Orders

Troutman Pepper Locke on

On March 29, the Federal Deposit Insurance Corporation (FDIC) announced two more consent orders containing provisions relating to banks’ third-party risk management programs with respect to banking as a service (BaaS)...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues December 2023 enforcement actions

On January 26, the FDIC released a list of administrative enforcement actions taken against banks and individuals in December 2023. During that month, the FDIC made public 12 orders consisting of “four orders of termination...more

The Volkov Law Group

NYDFS Sues Citigroup Over Lax Antifraud Defenses, Seeking Major Expansion in Antifraud Liability for Banking Institutions

The Volkov Law Group on

The New York Department of Financial Services (“NYDFS”) has brought action in Federal court against Citibank, N.A., alleging that the bank systemically failed to protect accountholders from rampant online scam activity,...more

Adams & Reese

FDIC Sends Clear Message in Recent Enforcement Action: BaaS/Fintech Partnerships are a High-Risk Compliance Area

Adams & Reese on

Last month, the Federal Deposit Insurance Corporation (“FDIC”) took action against a bank for alleged unsafe or unsound banking practices. This, in and of itself, is not usual or newsworthy. What is unusual and newsworthy,...more

Sheppard Mullin Richter & Hampton LLP

FDIC Issues Order Against Bank Over Fintech Partnership

On November 21, a Washington-based bank confirmed through a public filing that it entered into a consent order with the FDIC alleging that the bank engaged in unsafe or unsound banking practices, primarily related to products...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2023

Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more

Orrick, Herrington & Sutcliffe LLP

FDIC makes public August enforcement actions

On September 29, the FDIC released a list of administrative enforcement actions taken against banks and individuals in August. During the month, the FDIC made public nine orders consisting of “three consent orders, three...more

Kilpatrick

A Regulatory Enforcement Roundup

Kilpatrick on

A periodic review of regulatory enforcement actions is a useful guide to what not to do in the financial services sector. This post focuses on several recent enforcement actions – one by the Federal Reserve Board (the...more

Troutman Pepper Locke

DOJ Reaches $1.15 Million Redlining Settlement With American Bank of Oklahoma

Troutman Pepper Locke on

On August 28, the U.S. Department of Justice (DOJ) announced its eighth redlining settlement under its Combatting Redlining Initiative. The settlement between the DOJ and the American Bank of Oklahoma, which originated from a...more

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