Regulatory Alerts2026-04-16
Federal Reserve Board Issues Enforcement Action with Community Bankshares, Inc
The Federal Reserve Board, in coordination with Georgia state regulators, issued a consent Cease and Desist Order against Community Bankshares, Inc., imposing immediate restrictions on dividends, share repurchases, and debt without supervisory approval. The order mandates the holding company’s board to submit comprehensive oversight, capital, and affiliate transaction plans within thirty days while maintaining sufficient consolidated capital to support its subsidiary bank. Bankshares must promptly implement these approved plans, submit quarterly progress reports, and ensure ongoing regulatory compliance to rectify recent operational deficiencies identified during a January 2026 inspection.
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