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Fed lifts order banning OptimumBank Holdings from paying dividends

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Fed lifts order banning OptimumBank Holdings from paying dividends

The Federal Reserve Board terminated its consent order on Fort Lauderdale, Fla.-based OptimumBank Holdings Inc., which prohibited the bank from paying out dividends without regulatory approval.

The order, from the Federal Reserve Bank of Atlanta, also prohibited the company from repurchasing common shares and from incurring or increasing debt without prior approval.