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Violation Tracker Individual Record

Company: Metropolitan Commercial Bank
Penalty: $14,500,000
Year: 2023
Date: October 19, 2023
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Reserve Board issued an enforcement action and fined Metropolitan Commercial Bank, of New York, New York, approximately $14.5 million for violations of customer identification rules and for deficient third-party risk management practices relating to the bank's issuance of prepaid card accounts.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
Facility State: New York
Facility City: New York
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.