Federal Reserve Terminates Enforcement Actions Against Banks

Federal Reserve Press Releases

Published March 10th, 2026

Detected March 12th, 2026

Summary

The Federal Reserve Board announced the termination of several enforcement actions against Industrial and Commercial Bank of China and Standard Chartered Bank. These actions were terminated on various dates in February 2026, following the completion of their respective terms.

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What changed

The Federal Reserve Board has issued a notice announcing the termination of multiple enforcement actions against Industrial and Commercial Bank of China (ICBC) and its New York Branch, as well as Standard Chartered PLC, Standard Chartered Bank, and its New York Branch. The terminations, effective in late February 2026, signify the conclusion of written agreements and cease and desist orders that were previously in place.

This notice serves as an informational update for regulated entities. While no new actions or obligations are imposed, it indicates that ICBC and Standard Chartered have successfully met the requirements stipulated in their prior enforcement actions. Compliance officers should note this as a positive development for these institutions, reflecting the resolution of past regulatory scrutiny.

Source document (simplified)

Press Release

March 10, 2026

Federal Reserve Board announces termination of enforcement actions with Industrial and Commercial Bank of China Ltd., Industrial and Commercial Bank of China Ltd., New York Branch, Standard Chartered PLC, and Standard Chartered Bank

For release at 11:00 a.m. EDT

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- The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below:

Industrial and Commercial Bank of China, Ltd., Beijing, People's Republic of China and Industrial and Commercial Bank of China, Ltd, New York Branch, New York, New York
Written Agreement dated November 4, 2021 (PDF)
Terminated February 27, 2026

Industrial and Commercial Bank of China Ltd., Beijing, People's Republic of China and Industrial and Commercial Bank of China Ltd. New York Branch, New York, New York
Cease and Desist Order dated January 16, 2024 (PDF)
Terminated February 26, 2026

Standard Chartered PLC, London, United Kingdom, Standard Chartered Bank, London, United Kingdom, and Standard Chartered Bank, New York Branch, New York, New York
Cease and Desist Order dated December 10, 2012 (PDF)
Terminated February 26, 2026

Additional enforcement actions can be searched for here.

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Last Update:
March 10, 2026