Podcast Episode Details
Back to Podcast Episodes
Bank of Vici Consent Order
Discussing a Consent Order which is issued jointly by the Federal Deposit Insurance Corporation (FDIC) and the Oklahoma State Banking Department to the Bank of Vici. The order addresses concerns about unsafe or unsound banking practices and regulatory violations identified by the agencies. To rectify these issues, the Bank of Vici is mandated to improve its capital ratios, enhance board oversight, strengthen management and staffing, implement robust succession planning, upgrade information technology systems, bolster its anti-money laundering program, and address classified assets. Further requirements include developing comprehensive loan policies, an allowance for credit losses policy, a loan review program, and a strategic plan. The Bank is also restricted from paying cash dividends without prior consent.
Published on 11 months ago