The Federal Reserve Board announced on Friday the termination of specific enforcement actions involving two banking institutions. The Cease and Desist Order issued to United Texas Bank in Dallas, dated August 29, 2024, was terminated as of September 2, 2026.
Additionally, the Written Agreement with Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp., both located in Astoria, New York, was also terminated on September 2, 2026. This agreement had been in effect since July 5, 2023.
This announcement signals that the Federal Reserve has determined these institutions have sufficiently addressed the regulatory concerns that prompted the initial enforcement actions. For United Texas Bank, the resolution comes roughly two years after the issuance of a Cease and Desist Order, while for the Quontic entities, it marks the conclusion of a three-year period under a Written Agreement.
From a Compliance perspective, the termination of these actions indicates successful remediation efforts by the banks involved. It suggests that the supervisory issues identified in 2023 and 2024 have been resolved to the satisfaction of the central bank, allowing these institutions to operate without the constraints of formal enforcement orders.
