OCC Announces Enforcement Actions for March 2025 — 2025-03-20

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: Cease and Desist Order against 42 North Private Bank, Canton, Massachusetts, for unsafe or unsound practices, including those related to interest rate risk, strategic planning, capital, liquidity, and earnings. (Docket No. AA-ENF-2024-110). The OCC also terminated the bank’s cease and desist order dated March 30, 2017, which was replaced by the cease and desist order. (Docket No. AA-EC-2016-93) The OCC uses enforcement actions against an institution-affiliated party (IAP) to deter, encourage correction of, or prevent violations, unsafe or unsound practices, or breaches of fiduciary duty.