Fed Issues Action Against Small Business Bank, Ends Four Others

The Federal Reserve issued a new enforcement action against Small Business Bank, the Fed announced.

In the same release, the Federal Reserve announced the termination of four separate enforcement actions. Three of those terminations involved BNP Paribas entities. According to the Federal Reserve, the terminated actions covered BNP Paribas S.A., BNP Paribas USA, Inc., and BNP Paribas Securities Corp. The fourth termination, the Fed said, involved Community Bankshares, Inc.

The Federal Reserve did not provide additional details in the release about the nature of the action issued against Small Business Bank or the circumstances behind the four terminations.

In total, the Federal Reserve's announcement addressed five institutions: one subject to a new enforcement action and four whose existing actions were brought to a close.