OCCConsent Orderhigh

Community Federal Savings Bank

The OCC issued a consent order against Community Federal Savings Bank, Woodhaven, New York, on May 21, 2026. The action targeted deficiencies in the bank's Bank Secrecy Act and anti-money laundering compliance program. Those deficiencies resulted in violations of law or regulation.

180(d), covering suspicious activity reporting. 520(b)(3), the information sharing requirement under the USA PATRIOT Act. The order was published as part of the OCC's monthly release of enforcement actions for May 2026.

Implications
  1. Sponsor banks must ensure BSA/AML controls scale alongside fintech partnership growth
  2. Heightened regulatory scrutiny of customer due diligence for fintech-onboarded accounts
  3. Banks may face enforcement actions if fintech partner transaction monitoring is inadequate
  4. Board-level oversight of fintech-related compliance is now an explicit regulatory expectation
Source
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