The Office of the Comptroller of the Currency released its October 2025 public enforcement actions, including a formal agreement with First National Bank of Pasco and orders terminating formal agreements for B2 Bank National Association, California International Bank, and The National Iron Bank. The release also reported no enforcement actions against institution-affiliated parties for the month. The formal agreement with First National Bank of Pasco (Dade City, Florida) cites unsafe or unsound practices and related violations covering board oversight and corporate governance, strategic and capital planning, and Bank Secrecy Act/anti-money laundering (BSA/AML) risk management, including suspicious activity reporting, Suspicious Activity Reports, and due diligence programs for correspondent accounts for foreign financial institutions. The terminated actions include a November 14, 2023 formal agreement with B2 Bank National Association (Mountain Iron, Minnesota) addressing internal controls and management; two formal agreements with California International Bank (Westminster, California) dated February 23, 2021 and June 20, 2023 covering earnings, liquidity and capital, strategic plan execution, and BSA compliance; and a July 11, 2023 formal agreement with The National Iron Bank (Salisbury, Connecticut) focused on capital and strategic planning, concentrations risk management, credit underwriting and administration, and BSA/AML risk management.
Office of the Comptroller of the Currency 2025-10-16
Office of the Comptroller of the Currency enters formal agreement with First National Bank of Pasco and terminates formal agreements for three banks
The Office of the Comptroller of the Currency released its October 2025 enforcement actions, including a formal agreement with First National Bank of Pasco for unsafe practices and BSA/AML violations. Terminated agreements include those with B2 Bank National Association, California International Bank, and The National Iron Bank, addressing compliance and management issues. No enforcement actions were reported against institution-affiliated parties for the month.