OCC Announces Enforcement Actions for August 2024 — 2024-08-22

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 1st National Bank, Lebanon, Ohio, for unsafe or unsound practices, including those related to strategic planning, capital planning, liquidity risk management, and interest rate risk management. (Docket No. AA-CE-2024-27). Formal Agreement with Generations Bank, Seneca Falls, New York, for unsafe or unsound practices, including those related to board oversight, strategic planning, liquidity risk management, and interest rate risk management. (Docket No. AA-NE-2024-68).