August 11, 2015

Federal Reserve Board issues enforcement action with Cecil Bank, and announces termination of enforcement action with Philippine National Bank

For release at 11:00 a.m. EDT

The Federal Reserve Board on Tuesday announced the execution of the following enforcement action:

Cecil Bank (PDF), Elkton, Maryland
Prompt Corrective Action Directive dated August 7, 2015

The Federal Reserve Board also announced the termination of the enforcement action listed below:

Philippine National Bank, Pasay City, Philippines and Philippine National Bank New York Branch, New York, New York 
Written Agreement dated May 8, 2009
Terminated August 5, 2015

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Last Update: August 11, 2015