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Federal Reserve Eases Compliance Pressure on Crypto-Facing Banks with United Texas Bank Termination

Guavy AI Editorial Team
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The Federal Reserve Board announced it has terminated an enforcement action against United Texas Bank, a Dallas lender that faced regulatory scrutiny in 2024 over anti-money laundering controls for virtual currency clients.

The termination, effective September 2, 2026, comes after the bank was required to strengthen its board oversight and overhaul its compliance program under a consent order issued in August 2024.

The 2024 cease-and-desist order followed a May 2023 examination by the Federal Reserve Bank of Dallas that identified significant deficiencies in the bank's corporate governance and risk management, particularly with regards to virtual currency customers.

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