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Fed terminates cease and desist order against Cole Taylor Bank

The Federal Reserve terminated the cease and desist order and civil money penalty assessment against Cole Taylor Bank.

The enforcement action, which was issued on June 26, 2014, was terminated Dec. 1.

The order addressed the participation by the bank and its agent, New Haven, Conn.-based Higher One Inc., in deceptive practices in violation of section 5 of the Federal Trade Commission Act.

Chicago-based MB Financial Inc. acquired Cole Taylor in August 2014.