The Federal Reserve Board issued a cease-and-desist order
against a Kansas-based bank and its subsidiary, citing numerous operational deficiencies
discovered during an examination in October 2022.
The order directs the bank to submit plans to improve in
areas related books and records, capital, compliance with anti-money laundering
regulations, credit risk management, earnings, information technology and
information security, interest risk management, internal controls, lending and
credit administration, liquidity and funds management, staffing and third-party
risk management.