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The FDIC has released a list of enforcement orders issued in October 2024.

• The Stockgrowers State Bank, Maple Hill, Kansas, was assessed a $5,250 civil money penalty (CMP) for violations of the Flood Disaster Protection Act and National Flood Insurance Act.
• First & Peoples Bank and Trust Company, Russell, Kentucky, paid a $1,500 CMP for engaging in a pattern or practice of committing violations of the National Flood Insurance Act and 12 C.F.R. § 339.7(a), by failing to follow force placement flood insurance procedures for three loans.
• Bank of Frankewing, Frankewing, Tennessee, received a consent order regarding lending-related concerns, management succession, budgeting, capital, and violations noted in a November 2023 Visitation Report.
• John C. Ponte, formerly a loan referral agent for Independence Bank, East Greenwich, Rhode Island, was issued an Order of Prohibition and Order for Restitution of $1 million, for violations of regulations and unsafe and unsound practices in connection with the bank, causing the bank to suffer financial loss and Ponte to receive financial gain.

The Treasury Department has reported that OFAC has sanctioned 21 security and cabinet-level officials aligned with Nicolas Maduro. These individuals are sanctioned under the authority of Executive Order 13692 for being current or former officials of the Government of Venezuela. They have supported and carried out Maduro’s orders to repress civil society in his efforts to fraudulently declare himself the winner of Venezuela’s July 28 presidential election, thus ignoring the will of the overwhelming majority of Venezuelan voters who elected Edmundo Gonzalez Urrutia as their next president.

For the names and identification information of the designated individuals and an unrelated administrative update, see this November 27, 2024, BankersOnline OFAC Update.

The Office of the Comptroller of the Currency has announced increased assessment rates for national banks and federal savings associations for the 2025 calendar year. The increases are primarily targeted at large banks and other institutions that require increased supervisory resources, according to the OCC.

The OCC increased the rates in the general assessment fee schedule for assets above $40 billion by 16 percent to reflect the increased cost of supervising the largest institutions. The OCC increased all other rates in the general assessment fee schedule by 2.65 percent to account for inflation.

The calendar year 2025 assessment rates will be in effect as of January 1, 2025, and will be reflected in assessments paid on March 31, 2025, and September 30, 2025.

• OCC Bulletin 2024-32, with further details and complete assessment schedule