Federal Reserve Board announces termination of enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc

The Federal Reserve Board announced the conclusion of an enforcement action involving Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, all based in Irvine, California. The action originated from a Written Agreement dated February 24, 2021, which imposed supervisory measures on the firms. The termination was effective October 21, 2026, marking the end of the five-year enforcement period. The firms are now released from the restrictions outlined in the agreement.

The enforcement action was part of the Federal Reserve’s supervisory process to address compliance or operational concerns at the institutions. The termination indicates that the firms have met the conditions required by the agreement, allowing normal operations to resume without imposed restrictions. The Federal Reserve did not specify the nature of the original concerns in the announcement.

The termination applies specifically to the Written Agreement dated February 24, 2021, and does not affect other potential enforcement actions or supervisory measures. The Federal Reserve maintains the authority to initiate new actions if warranted by future findings. The firms are now subject only to standard regulatory oversight.

The announcement was made by the Federal Reserve Board on Thursday, concluding a long-standing enforcement measure. The termination does not imply any admission of wrongdoing by the firms, as enforcement actions are often resolved through corrective measures rather than findings of misconduct.