Fed ends enforcement actions involving United Texas Bank and Quontic's holding companies
The Federal Reserve ended two bank enforcement actions on Wednesday and announced the terminations Friday.
United Texas Bank is no longer under a 2024 cease and desist order tied to corporate governance and controls for foreign correspondent banking and virtual currency customers. The order had required new oversight, customer due diligence, suspicious activity monitoring and sanctions compliance plans.
The Fed also terminated a 2023 written agreement with Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp. That agreement required approval before dividends, share repurchases, capital distributions, new debt or guarantees, and required plans covering capital and cash flow.
No reason was given. The notice does not say that a separate 2022 OCC order involving Quontic Bank has ended.

