FDIC Takes Down 11 Banks in January 2023 Enforcement Actions

WASHINGTON – In a shocking crackdown on financial misdeeds, the Federal Deposit Insurance Corporation (FDIC) has made public a list of 11 enforcement actions taken against banks and individuals in January 2023.

The FDIC issued a total of 11 orders, consisting of four combined orders of prohibition and orders to pay civil money penalties, one 8(b) consent order, one order to pay civil money penalty, three orders of prohibition, one order terminating a Section 19 order, and one order terminating consent order.

The enforcement actions were taken due to various reasons, including failure to maintain adequate lending standards, mismanagement of bank assets, and civil money penalties for violating banking regulations.

According to the FDIC, there are no administrative hearings scheduled for March 2023, but the agency has promised to continue its crackdown on financial institutions that fail to adhere to regulations.

LaJuan Williams-Young, the FDIC spokesperson, said, ‘We are committed to ensuring that banks operate with integrity and transparency. Our enforcement actions are aimed at holding accountable those who fail to meet the high standards expected of them.’

To view the complete list of enforcement actions, including orders and adjudicated decisions, please visit the FDIC’s website by clicking the link below.

January 2023 Enforcement Decisions and Orders

For more information, please contact LaJuan Williams-Young at (703) 470-0201.

Last Updated: February 24, 2023