The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises.
The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified.
- Formal Agreement with First National Bank of Pasco, Dade City, Florida, for unsafe or unsound practices, including those related to board oversight and corporate governance, strategic and capital planning, Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk management and suspicious activity reporting, and violations of law, rule, or regulation, including those related to Suspicious Activity Reports and Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions. (Docket No. AA-SO-2025-46)
The OCC uses enforcement actions against an institution-affiliated party (IAP) to deter, encourage correction of, or prevent violations, unsafe or unsound practices, or breaches of fiduciary duty. Enforcement actions against IAPs reinforce the accountability of individuals for their conduct regarding the affairs of a bank. The term “institution-affiliated party,” or IAP, is defined in 12 USC 1813(u) and includes bank directors, officers, employees, and controlling shareholders. Orders of Prohibition prohibit an individual from any participation in the affairs of a bank or other institution as defined in 12 USC 1818(e)(7). The OCC has taken the following actions against IAPs:
- The OCC does not have any enforcement actions against IAPs to release in October.
The OCC terminates enforcement actions when a bank has demonstrated compliance with all articles of an enforcement action; or when the OCC determines that articles deemed “not in compliance” have become outdated or irrelevant to the bank’s current circumstances; or when the OCC incorporates the articles deemed “not in compliance” into a new action. Termination actions include:
- Order Terminating the Formal Agreement with B2 Bank National Association, Mountain Iron, Minnesota, dated November 14, 2023 (Docket No. AA-CE-2023-36). The Formal Agreement addressed unsafe or unsound practices, including those related to internal controls and less than satisfactory management. (Docket No. AA-CE-2025-48)
- Orders Terminating the Formal Agreements with California International Bank, A National Banking Association, Westminster, California, dated February 23, 2021 (AA-WE-2021-7) and June 20, 2023 (AA-WE-2023-25). The Formal Agreements addressed unsafe or unsound practices, including those related to deficient earnings, less than satisfactory liquidity and capital, and strategic plan execution, and violations of law, rule, or regulation, including those relating to BSA compliance. (Docket No. AA-WE-2025-52 and Docket No. AA-WE-2025-53)
- Order Terminating the Formal Agreement with The National Iron Bank, Salisbury, Connecticut, dated July 11, 2023 (Docket No. AA-NE-2023-24). The Formal Agreement addressed unsafe or unsound practices, including those related to capital and strategic planning, concentrations risk management, credit underwriting and administration, and BSA/AML risk management, and violations of law, rule, or regulation, including those relating to compliance with the Bank Secrecy Act. (Docket No. AA-NE-2025-21)
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All OCC public enforcement actions taken since August 1989 are available for download by viewing the searchable enforcement actions database at https://apps.occ.gov/EASearch.
