OCC Cites Community Federal Savings Bank Over AML Deficiencies in Fintech Program

The OCC issued a consent order against Community Federal Savings Bank, based in Woodhaven, New York, on May 21, 2026. The action targets deficiencies in the bank's Bank Secrecy Act and anti-money laundering compliance program. Specific violations include 12 CFR 21.21, covering BSA/AML program requirements, and 12 CFR 163.180(d), covering suspicious activity reporting.

The bank also violated 31 CFR 1010.520(b)(3), which governs information-sharing requirements under the USA PATRIOT Act. The consent order requires the bank's board and management to correct the identified deficiencies. No financial penalties were disclosed in the OCC's release.