The Office of the Comptroller of the Currency has issued a cease-and-desist order to Clear Fork Bank in Albany, Texas, for unsafe or unsound practices tied to its Bank Secrecy Act and anti-money laundering compliance. The OCC said in its C&D order, which supersedes a February 2021 formal agreement, that the $825 million-asset bank failed to correct previously reported BSA problems. The formal agreement was terminated. The order stated that

Clarion County Community Bank in Clarion, Pa., has new leadership. The $230 million-asset bank said that Travis Heiser had become its president and CEO. Heiser, who was CEO of Inner Lakes Federal Credit Union, succeeded James Kifer. Kifer had led the bank for 20 years. “It’s been incredibly rewarding to be in this role over the past 20 years; to have led the build-out of a new bank that created

Capital City Bank Group in Tallahassee, Fla., will take over full ownership of Capital City Home Loans. The $4.2 billion-asset Capital City, which already owns 51% of the mortgage lender, said it will buy the remaining 49% interest on Jan. 1. The purchase price will be based on the capital account balances of the mortgage lender's members as of Dec. 31. Capital City Home Loans has 27 offices across the

Bethpage Federal Credit Union in Bethpage, N.Y., is rebranding as FourLeaf Federal Credit Union. The $13.4 billion-asset credit union aid the change will occur in the first quarter. It will include a color update and a new logo. “As we navigate an ever-evolving landscape, we recognize the importance of adapting to meet the changing needs of our members and our markets and exploring new ways to grow and expand,” Linda

Moody’s in New York has acquired loan-origination platform Numerated Growth Technologies for an undisclosed amount. Moody's said in a press release that the acquisition builds on a partnership announced in January that integrated Numerated’s front office, decisioning and loan operation technologies with Moody’s credit assessment, underwriting and monitoring expertise. Numerated, which uses data and artificial intelligence to streamline the lending process, will be integrated into Moody’s Lending Suite. “As our

Robinhood Markets has agreed to buy TradePMR, a custodial and portfolio management platform for registered investment advisers (RIAs). Robinhood said in a press release that the final deal consideration is expected to be about $300 million in cash and stock. The deal is expected to close in the first half of 2025. TradePMR has more than $40 billion in assets under administration. “The TradePMR team has one of the strongest

The Federal Reserve has issued a new cease-and-desist order to Small Business Bank in Lenexa, Kan. The Fed said the order resulted from its May examination, which identified "new and continuing deficiencies" in the bank’s Bank Secrecy Act and anti-money laundering risk management and compliance. Small Business Bank, a unit of Gardner Bancshares, had already been operating under a 2023 C&D order that requires it to address BSA and AML

Industry Bancshares in Industry, Texas, which has been embroiled in a battle with the Office of the Comptroller of the Currency, is now dealing with an enforcement action with the Federal Reserve. The Fed announced that the $5.1 billion-asset company agreed to a consent order requiring it to submit a written plan to strengthen board oversight and for the board to "maintain effective control over" operations and activities such as