Community Federal Savings Bank
US · Woodhaven, New York · OCC / FDIC
Community Federal Savings Bank is a Bank based in US (Woodhaven, New York), regulated by OCC / FDIC. The institution's BaaS program is currently under regulatory scrutiny, launched in 2016.
Community Federal Savings Bank supports the following products and services: Payments, Cards, Accounts, KYC/AML. The bank serves customers across US.
Notable fintech partners include Synctera, Airwallex.
- Products Supported
- PaymentsCardsAccountsKYC/AML
- Geographies Served
- US
- Charter / Regulator
- OCC / FDIC
- API Standards
- REST API, ACH
- Minimum Deal Size
- Not publicly disclosed
- Year Program Launched
- 2016
Synctera, Airwallex
WARNING: FDIC consent order (Feb 2024) addressing third-party risk management and BSA/AML concerns related to BaaS fintech partnerships.
WARNING: Community Federal Savings Bank received a 2024 FDIC consent order addressing BaaS/fintech compliance deficiencies. Joined Synctera marketplace in September 2021 as its 4th community bank partner.
OCC Cites Community Federal Savings Bank Over AML Deficiencies in Fintech Program
The OCC issued a consent order against Community Federal Savings Bank in Woodhaven, New York, on May 21, 2026. The order addresses deficiencies in the bank's BSA/AML compliance program, including violations of suspicious activity reporting and USA PATRIOT Act information-sharing requirements.
Synctera Signs Community Federal Savings Bank for BaaS Marketplace
Synctera signed Community Federal Savings Bank (CFSB) onto its bank-fintech marketplace platform. The partnership enables CFSB to connect with fintechs through Synctera's BaaS infrastructure, supporting scalable banking partnerships.
Community Federal Savings Bank Partners with PayFacto to Launch Merchant Acquiring Division
Community Federal Savings Bank (CFSB) partnered with PayFacto Payments to launch a new merchant acquiring division, expanding CFSB's Banking-as-a-Service offerings. The partnership combines CFSB's fintech sponsorship and compliance capabilities with PayFacto's scalable payment processing platform. This targets emerging sectors with customized merchant acquiring services in the US market.