OCC Announces Enforcement Actions for January 2025 and Updates to Enforcement Action Search Tool — 2025-01-16

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 also announced updates to its enforcement action search tool. 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 Bank of America, N.A., Charlotte, North Carolina, for violations and unsafe or unsound practices related to the bank’s Bank Secrecy Act, anti-money laundering, and sanctions compliance programs. Refer to OCC News Release 2024-140. (Docket No. AA-ENF-2024-56) 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.