OCC Announces Enforcement Actions for November 2023 — 2023-11-16

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. The OCC uses enforcement actions against its supervised institutions to require the board of directors and management to take timely actions to correct the deficient practices or violations identified. Actions taken against supervised institutions are: Formal Agreement against Heritage Bank, National Association, Spicer, Minnesota, for unsafe or unsound practices, including those relating to capital and strategic planning, timely and adequate credit review, ongoing monitoring of the credit portfolio, and liquidity risk management. (Docket No. AA-WE-2023-32) Consent Order against United Fidelity Bank, FSB, Evansville, Indiana, for engaging in unsafe or unsound practices, including those relating to corporate governance and enterprise risk management, credit underwriting and administration, liquidity risk management, and interest rate risk management. (Docket No.