Office of the Comptroller of the Currency releases June 2026 enforcement actions with two prohibition orders and three terminations

The Office of the Comptroller of the Currency released its June 2026 enforcement actions, including two orders of prohibition against former bank officials and three orders terminating earlier actions against banks. The prohibitions bar the individuals from participating in the affairs of a bank or other covered institution. One order targets Steven Ho, former vice president and senior mortgage lending officer at Quontic Bank in Astoria, New York, for concealing work with unapproved third-party mortgage brokers, falsifying material loan application information, and transferring confidential bank customer and business information to non-bank employees. The second targets Danny Seibel, former president, chief executive officer and director of The First National Bank of Lindsay in Oklahoma, for extending loans without adequately considering borrowers' ability to repay, allowing significant unrepaid overdrafts, and concealing long-nonperforming loans by changing maturity dates, payment due dates and past-due statuses in the bank's core system. The OCC said that misconduct caused the bank's insolvency and preceded its receivership in October 2024, and that Seibel pleaded guilty to one count of bank fraud. The terminated actions are a July 14, 2022 cease and desist order against Bank of America, N.A., a July 23, 2024 formal agreement with Maple City Savings Bank, FSB, and an Oct. 29, 2021 formal agreement with The Federal Savings Bank. The OCC said it terminates actions when a bank has complied with all articles, when noncompliant articles have become outdated or irrelevant, or when those articles are incorporated into a new action.