Helm Bank USA, based in Miami, signed a consent order with federal and state banking regulators Oct. 17, according to information on October enforcement actions released by the Federal Deposit Insurance Corp. on Friday.
Helm Bank must deveop a Bank Secrecy Act compliance plan, implement internal controls and a training program, revise its strategic plan and develop a plan for managing interest rate risk, among other requirements, according to the 19-page consent order.
Banking regulators also modified Miami-based Great Eastern Bank of Florida’s consent order on Oct. 25. The consent order was originally issued in July. The modification includes a requirement that the bank submit a written capital plan to boost its capital and a plan to reduce its classified assets. It must also revise its strategic plan and its plan to improve earnings, and submit a Bank Secrecy Act compliance plan, among other requirements outlined in the 19-page modification.
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Banking regulators release Helm Bank’s and Great Eastern Bank’s enforcement actions agreed to in October
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Banking regulators release Helm Bank’s and Great Eastern Bank’s enforcement actions agreed to in October
