OCC enforcement action against Axiom Bank for BSA/AML violations
Axiom Bank issued formal enforcement agreement affecting Office of the Comptroller of the Currency on October 17, 2024.
- Primary
- Axiom Bank
- Counterparty
- Office of the Comptroller of the Currency
- Structure
- formal enforcement agreement
- Date
- October 17, 2024
- Sub-sector
- Regtech / KYC / AML
OCC cited BSA violations and unsafe banking practices; bank must remediate AML controls within 30 days, relevant to fintech partnerships including challenger bank Majority.
Source: americanbanker.com