WASHINGTON, D.C.: The FDIC has released a list of administrative enforcement actions taken against banks and individuals in August 2023. The list includes nine orders, consisting of three consent orders, three orders terminating consent orders, two orders of prohibition, and one order to pay a civil money penalty.
The three consent orders were issued to banks for violations of various regulations, including the Bank Secrecy Act and anti-money laundering laws. The orders require the banks to take corrective action and implement measures to prevent future violations.
The three orders terminating consent orders were issued to banks that had previously been subject to consent orders. The orders terminate the previous consent orders and release the banks from their obligations under those orders.
The two orders of prohibition were issued to individuals who had engaged in unsafe or unsound banking practices. The orders prohibit individuals from participating in the affairs of any insured depository institution without the prior approval of the FDIC.
Finally, the order to pay a civil money penalty was issued to a bank for violations of the Flood Disaster Protection Act. The bank was ordered to pay a penalty of $50,000.
It is important to note that no administrative hearings are scheduled for October 2023. The FDIC will continue to monitor banks and individuals for compliance with banking regulations and take enforcement action when necessary.