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Federal Reserve takes enforcement action involving small business bank
The Fed also announced the termination of previously listed enforcement actions tied to BNP Paribas entities and Community Bankshares, Inc.
The Federal Reserve Board announced an enforcement action involving a small business bank, with the action scheduled for execution as outlined in the central bank's Thursday release.
In the same statement, the Fed also said it is terminating enforcement actions previously listed for BNP Paribas S.A., BNP Paribas USA, Inc., BNP Paribas Securities Corp., and Community Bankshares, Inc.
The release was published by the Fed for distribution at 11:00 a.m. EDT, and it frames the actions as part of the Board's supervisory enforcement process.