OCC Announces Enforcement Actions for December 2023 — 2023-12-14

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 against B2 Bank National Association, Mountain Iron, Minnesota, for unsafe or unsound practices, including those relating to internal controls and management oversight. (Docket No. AA-CE-2023-36) Cease and Desist Order against Upstate National Bank, Ogdensburg, New York, for engaging in unsafe or unsound practices, including those relating to board oversight and corporate governance; strategic and capital planning; interest rate risk management; liquidity risk management; and for engaging in violations of law, rule, or regulation relating to reports of condition. (Docket No.