S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.
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.
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Plaintiff to drop ex-Banc of California CEO from suit alleging fraudster ties
A plaintiff agreed to dismiss former Banc of California Inc. President and CEO Steven Sugarman with prejudice from a case involving allegedly misleading statements.
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SEC approves Volcker 2.0
The SEC on Sept. 18 adopted amendments to the Volcker rule, joining the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp. and Commodity Futures Trading Commission.
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Cadence Bancorp. sued over alleged statements preceding Q2 results
Cadence Bancorp. is facing a putative class-action lawsuit over alleged misleading statements in the year preceding its second quarter results released July 22.
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CFPB throws out BofA's request to stop inquiry into accounts practices
The Consumer Financial Protection Bureau denied Bank of America Corp.'s request to dismiss an inquiry into its practices regarding the opening of customer accounts.
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Former credit union CEO gets more than 14-year prison sentence for embezzlement
U.S. District Judge Otis Wright II sentenced former C B S Employees FCU CEO Edward Rostohar to 169 months in federal prison for embezzlement.
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DOJ charges 3 metals traders with market manipulation
The U.S. Department of Justice charged one former and two current JPMorgan Chase & Co. employees with manipulating the markets for precious metals futures contracts.
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Fed lifts consent order against HomeStar Financial
The Federal Reserve lifted its consent order against Manteno, Ill.-based HomeStar Financial Group Inc., which prohibited the bank from paying dividends without regulatory approval. HomeStar was acquired by Effingham, Ill.-based Midland States Bancorp Inc. in July.
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FDIC gives 'needs to improve' rating on State Bank of Brooks in CRA examinations
The Federal Deposit Insurance Corp. gave a "needs to improve" rating to Corning, Iowa-based State Bank of Brooks in its Community Reinvestment Act examinations.
