OCC Announces Enforcement Actions for June 2024 — 2024-06-17

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified. Actions taken against banks are: Formal Agreement with Credit Suisse AG New York Branch, New York, New York, to address deficiencies in the branch’s compliance related to the Bank Secrecy Act and other anti-money laundering laws and regulations. The branch’s execution of this formal agreement was a condition for the branch’s conversion to a federal license. The provisions of the formal agreement are substantially the same as a prior written agreement between the branch and the Federal Reserve Bank of New York and the New York State Department of Financial Services. (Docket No.