The Office of the Comptroller of the Currency released its public enforcement actions for April 2026, including a consent order against The Federal Savings Bank for deceptive acts or practices tied to U.S. Department of Veterans Affairs-guaranteed cash-out refinance lending, and two orders of prohibition against former bank employees for misappropriating customer funds. The release also includes orders terminating three previously issued actions after the OCC determined the relevant termination criteria were met. The consent order against The Federal Savings Bank, Chicago, Illinois cites violations of Section 5 of the Federal Trade Commission Act related to conduct that induced consumers to obtain VA-guaranteed cash-out refinance loans involving significant origination fees, increased interest rates, and increased monthly payments. The OCC also issued an order of prohibition against Shaira Ahmed, a former Associate Banker at JP Morgan Chase Bank, National Association, Columbus, Ohio, for embezzling more than USD 73,000 from bank customer accounts, and an order of prohibition against Marissa Murillo, a former Associate Banker at BMO Bank N.A., Chicago, Illinois, for unauthorized withdrawals totaling more than USD 164,000 from an elderly customer’s account. Termination orders covered a consent order against CNB Bank & Trust, Carlinville, Illinois dated June 18, 2024, a formal agreement with Generations Bank, Seneca Falls, New York dated July 19, 2024, and a consent order against JPMorgan Chase Bank, N.A., Columbus, Ohio dated March 14, 2024.
Office of the Comptroller of the Currency 2026-04-16
Office of the Comptroller of the Currency issues consent order over deceptive VA cash-out refinance loans, bars two former bankers, and terminates three actions
The Office of the Comptroller of the Currency published its April 2026 public enforcement actions, including a consent order against The Federal Savings Bank for deceptive practices in VA-guaranteed cash-out refinance lending that violated Section 5 of the FTC Act. The OCC also issued prohibition orders against two former associate bankers at JPMorgan Chase Bank, National Association and BMO Bank N.A. for misappropriating more than USD 73,000 and USD 164,000 respectively from customer accounts, and terminated three prior enforcement actions.