United Texas Bank Converts to National Charter, Shifting Oversight to OCC From Fed
United Texas Bank said it completed a charter conversion to a national bank, shifting its federal oversight to the Office of the Comptroller of the Currency from the Federal Reserve even as it remains under a consent order. The enforcement order will be carried over to the OCC, which will decide later whether to terminate it.
The Dallas-based lender said the change will help it expand its business serving digital-asset firms and foreign banks. It also said the conversion was the first completion of that OCC process since Dodd-Frank in 2010.
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@dallasexpressUNITED TEXAS BANK ACHIEVES HISTORIC NATIONAL CHARTER CONVERSION Chairman and CEO Scott Beck led the Dallas-based institution to become the first bank to successfully complete this OCC process since Dodd-Frank in 2010, while launching propr
@yueqi_yangUnited Texas Bank, a crypto-friendly bank, says it successfully switched its regulator through a charter conversion, despite being under a consent order. That means the Federal Reserve will no longer supervise it, and its enforcement orde