Regulatory Alerts2025-02-10 | Supervisory Condition Letter 2025-02Added
Supervisory Condition Letter 2025-02 — Vast Bank, N.A., Tulsa, Oklahoma – Notification of Conditional No Supervisory Objection to Capital and Strategic Plan
The Office of the Comptroller of the Currency grants Vast Bank, N.A. a conditional no supervisory objection to its Capital and Strategic Plan submitted on December 30, 2024. The Bank is prohibited from significantly deviating from the Plan without prior written determination of no supervisory objection from the OCC, requiring at least 60 days advance written notice and a detailed impact assessment for any such changes. Significant deviations include implementing activities such as banking as a service, digital asset trading, or cryptocurrency services, as well as changes to marketing strategies, underwriting practices, fee structures, or funding strategies that materially impact operations or financial performance. The condition is enforceable under 12 USC 1818 and does not amend the existing Consent Order dated October 23, 2023.