Regulatory Tracker

The FCA restricted six unregulated Annex 1 lenders from taking on new customers or conducting new business after raising concerns about their anti-money laundering controls. Restrictions were imposed at each firm's request between April and October 2026.

The OCC imposed a $750 million civil money penalty against Bank of America, N.A., on Oct 13, 2026, for BSA violations. The penalty is the largest in OCC history.

The Federal Reserve Board terminated enforcement actions against Gardner Bancshares, Inc. and Small Business Bank on Oct 16, 2026. The termination covers both institutions simultaneously.

The Federal Reserve announced an enforcement action against American Express Company on Oct 8, 2026. The action addresses the firm's failure to sufficiently detect and report suspicious activity related to money laundering.

California's DFPI imposed an $825,000 penalty on Academy Mortgage Corporation through a consent order. The action followed a 2023 ransomware attack and cited inadequate cybersecurity documentation and governance failures.

The Federal Reserve terminated an enforcement action against Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch on Aug 20, 2026.

The RBI imposed a monetary penalty on Progfin Private Limited on Aug 21, 2026. The action targeted non-compliance with RBI directions on governance and KYC requirements.

The RBI imposed a monetary penalty on Shri Ram Finance Corporation Private Limited. The action was announced on Aug 21, 2026, citing non-compliance with regulatory directions.

The Reserve Bank of India imposed a penalty of Rs 2.70 lakh on Progfin Private Limited, an NBFC linked to embedded finance and BaaS ecosystems, for KYC non-compliance. Progfin failed to implement a system for periodic review of risk categorisation of accounts at least once every six months.

The Federal Reserve Board on Aug 20, 2026, issued consent prohibition orders against former employees of Regions Bank and United Community Bank for misappropriation of customer funds.

The OCC terminated a formal agreement with First National Bank of Pasco, Dade City, Florida, on Aug 20, 2026. The original agreement was dated Sep 18, 2025.

The Federal Reserve executed a Written Agreement with SouthPoint Bancshares, Inc. of Birmingham, Alabama, dated Aug 14, 2026. The action was announced on Aug 20, 2026.

The SEC proposed 'Regulation Crypto Assets,' a new rulemaking that would establish a registration framework for crypto asset offerings. The proposal could affect banks and fintech firms involved in crypto-related BaaS and digital asset custody.

The RBI fined Union Bank of India ₹3,08,795 for currency note violations detected during an inspection. The bank disclosed the penalty on Aug 18, 2026.

The RBI fined Northern Arc Capital ₹6.20 lakh for non-compliance with directions on financial statement disclosures and internal ombudsman requirements. The penalty was issued on Aug 17, 2026.

The RBI fined Fusion Finance Ltd ₹2.70 lakh for non-compliance with its know-your-customer directions. The penalty was part of a ₹71.20 lakh enforcement action covering IndusInd Bank and three NBFCs.

The RBI fined IndusInd Bank ₹59.20 lakh on Aug 17, 2026, for non-compliance with directions on interest rates on deposits and securitisation of standard assets. The penalty was part of a ₹71.20 lakh enforcement action covering three NBFCs as well.

Austria's FMA fined Bitpanda GmbH €70,000 for three MiCA violations involving whitepaper notification and marketing rules. The penalty, published on Aug 14, 2026, is the FMA's first public MiCA sanction.

Taiwan's FSC fined Co-operative Treasury Bank (合作金庫商業銀行) NT$12 million for deficiencies in credit card suspicious-transaction handling. The regulator also suspended the bank from accepting new credit card customers for one month.

The RBI fined Fusion Finance Limited ₹2.70 lakh on Aug 14, 2026, for failing to maintain a periodic review system for customer risk categorisation under KYC rules. The lapse was identified during a statutory inspection covering FY25.

The FDIC announced a new two-phase review process for deposit insurance applications on August 13, 2026, applying to applications received after August 15. This procedural change affects how new bank charters and fintech-affiliated banking entities obtain deposit insurance.

The OCC granted preliminary conditional approval on Aug 14, 2026, for World Liberty Trust Company, National Association, to charter as a national trust bank in Bay Harbor Islands, Florida.

IRDAI issued a show-cause notice and Letter of Advice to Policybazaar Insurance Brokers on Aug 13, 2026. Parent company PB Fintech said no penalty, restriction, or sanction has been imposed.

Bleichmar Fonti & Auld LLP announced a securities fraud investigation into Coastal Financial Corp. (NASDAQ:CCB) over statements about the credit quality of its CCBX banking-as-a-service segment. The stock fell 43.5% on Jul 30, 2026.