OCC Announces Enforcement Actions for June 2026

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions for June 2026.

The OCC uses enforcement actions against an institution-affiliated party (IAP) to deter, encourage correction of, or prevent violations, unsafe or unsound practices, or breaches of fiduciary duty. Enforcement actions against IAPs reinforce the accountability of individuals for their conduct regarding the affairs of a bank. The term “institution-affiliated party,” or IAP, is defined in 12 USC 1813(u) and includes bank directors, officers, employees, and controlling shareholders. Orders of Prohibition prohibit an individual from any participation in the affairs of a bank or other institution as defined in 12 USC 1818(e)(7). The OCC has taken the following actions against IAPs:

• Order of Prohibition against Steven Ho, former Vice President and Senior Mortgage Lending Officer at Quontic Bank, Astoria, New York, for concealing his work with unapproved third-party mortgage brokers, falsifying material loan application information, and transferring confidential bank customer and business information to non-bank employees. (Docket No. AA-ENF-2026-16)

• Order of Prohibition against Danny Seibel, former President, Chief Executive Officer, and Director at The First National Bank of Lindsay, Lindsay, Oklahoma, for extending loans to borrowers without adequately considering their ability to repay, allowing customers to significantly overdraft their accounts without repayment, and concealing loans that had been nonperforming for years by manipulating the bank’s core system to change the loans’ maturity dates, payment due dates, and past due statuses. This misconduct caused the bank’s insolvency, and the bank was placed into receivership in October 2024. Mr. Seibel pled guilty to one count of violating 18 U.S.C. §1344, Bank Fraud. (Docket No. AA-ENF-2026-27)

The OCC terminates enforcement actions when a bank has demonstrated compliance with all articles of an enforcement action; or when the OCC determines that articles deemed “not in compliance” have become outdated or irrelevant to the bank’s current circumstances; or when the OCC incorporates the articles deemed “not in compliance” into a new action. The termination actions are:

• Order Terminating the Cease and Desist Order against Bank of America, N.A., Charlotte, North Carolina, dated July 14, 2022 (AA-ENF-2022-21). (Docket No. AA-ENF-2026-32)

• Order Terminating the Formal Agreement with Maple City Savings Bank, FSB, Hornell, New York, dated July 23, 2024 (AA-NE-2024-71). (Docket No. AA-NE-2026-30)

• Order Terminating the Formal Agreement with The Federal Savings Bank, Chicago, Illinois, dated October 29, 2021 (AA-CE-2021-47). (Docket No. AA-CE-2026-24 )

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All OCC public enforcement actions taken since August 1989 are available for download by viewing the searchable enforcement actions database at https://apps.occ.gov/EASearch.

Related Link

• Enforcement Action Types