I know they’ve tried to spin this to try to find “the silver lining”
No such thing!
Cease & Desist is NEVER good
https://www.occ.gov/static/enforcement-actions/eaAA-ENF-2024-96.pdf
We are in deep do---o because Wayne & Amala are AWOL!
Amala needs to go!
Let’s call this the WayMala consent order
Jason Witty left because he knew he was much more qualified than his “boss”
And here we are…
First of all, his first name is Steven, not Wayne. It’s odd to call someone by the middle name.
But your point is right on.
They literally cannot EXPAND on any banking products or customer base without express written consent from the OCC. Lmfaooo there is no way to spin this
It is horrible if they are trying to spin it as a good thing. I am in banking compliance and this is absolutely a bad thing.