EagleBank fined for Reg O violation and former CEO/Chair barred from industry

The Federal Reserve Board has issued an Order of Assessment of a $9,524,000 Civil Money Penalty issued upon Consent against EAGLEBANK, Bethesda, Maryland, having found that, during the period from May 1, 2015, to May 1, 2018, the bank engaged in violations of Regulation O, 12 CFR Part 215, by extending credit to the related interests of insiders, including entities owned or controlled by the bank's then-CEO without the requisite approval from a majority of the bank's directors.