Fed Hits Texas Bank with Cease and Desist Over Crypto Firm Services

Fed Hits Texas Bank with Cease and Desist Over Crypto Firm Services

The Federal Reserve has issued a cease and desist order to United Texas Bank, citing "significant deficiencies" in its risk management systems and dealings with cryptocurrency clients. The order, dated September 4, follows a May examination by the Fed, which uncovered shortcomings in the bank’s corporate governance and oversight by its board of directors and senior management. The Fed identified major concerns relating to United Texas Bank’s ...

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