FDIC Names Banks, Individuals in March Enforcement Actions

WASHINGTON – A dirty deal went down in March 2022, with the Federal Deposit Insurance Corporation (FDIC) taking swift action against banks and individuals found guilty of breaking the rules.

The FDIC released a list of 13 orders of administrative enforcement actions taken against banks and individuals in March 2022, revealing a web of deceit that spanned the financial industry. The list read like a who’s who of financial miscreants, with banks and individuals from all corners of the country facing the music.

At the center of the scandal were a string of banks that had been found guilty of violating financial regulations, including six that had their consent orders terminated. The FDIC also issued a stern warning to one bank, ordering it to pay a whopping civil money penalty of $1 million for its transgressions.

But it wasn’t just banks that were feeling the heat – a number of individuals also found themselves on the wrong side of the law, with five Section 19 orders issued against them. The FDIC also terminated the insurance of one individual, leaving them high and dry in the financial world.

The FDIC’s actions are a stark reminder that no one is above the law, not even the big players in the financial industry. And with the agency’s reputation for being tough on financial miscreants, it’s no wonder that the list of enforcement actions was met with a mixture of shock and awe.

The FDIC’s move is a major victory for taxpayers and consumers, who have been left to pick up the pieces in the wake of financial scandals. By taking swift and decisive action, the FDIC is sending a clear message that financial malfeasance will not be tolerated, and that those who break the rules will be held accountable.

For a full list of the FDIC’s enforcement actions, visit their website by clicking the link below.

March 2022 Enforcement Decisions and Orders – https://www.fdic.gov/news/orders/2022/

Contact:

LaJuan Williams-Young, FDIC (703) 470-0201

Last Updated: April 29, 2022