Federal Reserve Board announces termination of enforcement actions with United Texas Bank, Quontic Bank Acquisition Corp., and Quontic Bank Holdings Corp.
The Federal Reserve terminated enforcement actions against United Texas Bank and Quontic Bank entities, effective September 2, 2026, signaling compliance progress.
The Federal Reserve Board announced the end of enforcement actions against United Texas Bank, Dallas, Texas, including a cease and desist order issued August 29, 2024. The termination, effective September 2, 2026, reflects the bank’s compliance with supervisory directives. The decision follows a review of the bank’s corrective measures and risk management improvements.
The Federal Reserve also terminated enforcement actions against Quontic Bank Acquisition Corp. and Quontic Bank Holdings Corp., both based in Astoria, New York. These actions were based on a written agreement dated July 5, 2023, and will conclude on September 2, 2026. The termination indicates progress in addressing supervisory concerns raised in the agreement.
Enforcement actions are typically imposed to address deficiencies in safety, soundness, or compliance with banking laws. Their termination suggests that the institutions have met the required standards or made sufficient progress to warrant removal. The Federal Reserve did not specify the nature of the deficiencies in its announcement.
The Federal Reserve Board oversees enforcement actions to ensure the stability of the U.S. financial system. Institutions subject to such actions must demonstrate compliance before terminations are considered. The public can search for additional enforcement actions through the Federal Reserve’s official resources.