Federal Reserve Drops Enforcement Action Against United Texas Bank
The Federal Reserve has terminated its enforcement action against United Texas Bank, a Dallas-based lender that faced scrutiny over its anti-money-laundering controls for virtual currency clients in 2024.
The termination is effective September 2, 2026, and was announced jointly with the Texas Department of Banking, which supervises the bank as a state-chartered institution.
The Federal Reserve's enforcement action began in May 2023, when an examination by the Federal Reserve Bank of Dallas and the Texas Department of Banking identified significant deficiencies in United Texas Bank's corporate governance and oversight.
Examiners flagged weaknesses in risk management and compliance with anti-money-laundering rules under the Bank Secrecy Act, particularly related to the bank's foreign correspondent banking and virtual currency customers.
The consent order required United Texas Bank to strengthen its board oversight, overhaul its BSA/AML compliance program, revise customer due diligence, and improve suspicious activity monitoring.