FDIC Consent Order — Cross River Bank, FDIC-22-0040b (March 8, 2023)

Record facts

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FEDERAL DEPOSIT INSURANCE CORPORATION 
WASHINGTON, D.C. 
 
 
In the Matter of 
 
CROSS RIVER BANK 
TEANECK, NEW JERSEY 
 
 
(INSURED STATE NONMEMBER BANK) 
                                                                         
     
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      CONSENT ORDER 
 
 
 
 
       FDIC-22-0040b 
 
  
  
 
 
The Federal Deposit Insurance Corporation (FDIC) is the appropriate Federal banking 
agency for Cross River Bank, Teaneck, New Jersey (Bank), under section 3(q) of the Federal 
Deposit Insurance Act (Act), 12 U.S.C. § 1813(q).   
The FDIC considered the matter and determined, and the Bank neither admits or denies, 
that it engaged in the unsafe or unsound banking practices related to its compliance with 
applicable fair lending laws and regulations by failing to establish and maintain internal controls, 
information systems, and prudent credit underwriting practices in conformance with the Safety 
and Soundness Standards contained in Appendix A of 12 C.F.R. Part 364, or the violations of the 
Equal Credit Opportunity Act, 15 U.S.C. § 1691, et seq., as implemented by Regulation B, 12 
C.F.R. Part 1002, and the Truth-in-Lending Act, 15 U.S.C. § 1601, et seq., as implemented by 
Regulation Z, 12 C.F.R. Part 1026, as described in the May 3, 2021 Consumer Compliance 
Report of Examination (2021 ROE).   
The Bank, by and through its duly elected and acting Board of Directors (Board), has 
executed a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER 
(CONSENT AGREEMENT), dated March 8, 2023, that is accepted by the FDIC.  With the  
 
 

 
 
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CONSENT AGREEMENT, the Bank, without admitting or denying any charges of unsafe or 
unsound banking practices or violations of law or regulation, has consented to the issuance of 
this CONSENT ORDER (ORDER) under section 8(b) of the Act, 12 U.S.C. § 1818(b), by the 
FDIC.   
Having determined that the requirements for issuance of an order under section 8(b) of 
the Act, 12 U.S.C. § 1818(b), have been satisfied, the FDIC hereby issues the following 
ORDER: 
CONSENT ORDER 
 
IT IS HEREBY ORDERED that the Bank, its institution-affiliated parties (IAPs), as that 
term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), and its successors and assigns, 
take the following action: 
1.  Board Requirements 
A. 
Supervision, Direction, and Oversight.  The Board must immediately: 
1. 
increase its supervision and direction of management, and its oversight 
and monitoring of the Bank’s system of internal controls, information systems, credit 
underwriting practices, and internal audit systems related to consumer protection laws and 
regulations (referred to by the Bank as the Marketplace Lending Compliance Management 
System and in this ORDER as Marketplace Lending CMS); 
2. 
assume responsibility, consistent with the Bank’s risk profile, size, 
considering its total assets and volume of credit transactions (for purposes of this ORDER, the 
terms “credit” and “credit transaction” have the meanings ascribed to them in Regulation B, 12 
C.F.R. § 1002.2(j) and (m), hereinafter Credit and Credit Transaction, respectively), and  
 
 

 
 
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operational complexity, considering the number of Credit products offered and number of third 
parties involved, for ensuring on a continuous basis that: 
(a) 
prudent Credit underwriting practices appropriate to the nature and 
scope of the Bank’s activities are established and maintained;  
(b) 
the Bank’s compliance with applicable fair lending laws and 
regulations is satisfactorily monitored; 
(c) 
violations of applicable fair lending laws and regulations are 
prevented, or identified and self-corrected; and  
(d) 
the Bank’s internal audit system with respect to applicable fair 
lending laws and regulations: 
(1) 
is appropriate to the size of the Bank and the nature and 
scope of its activities; 
(2) 
appropriately considers the risk assessments, studies, 
reports, plans, policies, procedures, and/or processes required by this ORDER; and  
(3) 
appropriately assesses the Bank’s implementation of and 
adherence to any plans, policies, procedures, or processes adopted by the Board in 
accordance with Paragraph 7 of this ORDER.   
B. 
Corrective Action.  The Board must also ensure that the Bank takes all steps 
necessary, consistent with other provisions of this ORDER and safe and sound banking practices, 
to: 
1. 
eliminate or correct, and prevent the unsafe or unsound banking practices 
identified and the violations of law or regulation cited in the 2021 ROE and establish policies, 
procedures, and/or processes to eliminate or correct, and prevent any unsafe or unsound banking 

 
 
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practices identified and violations of law or regulation cited in future consumer compliance 
reports of examination, visitation reports or supervisory letters;  
2. 
appropriately address the deficiencies and weaknesses identified in the 
2021 ROE and establish processes to appropriately address any deficiencies or weaknesses 
identified in future consumer compliance reports of examination, visitation reports or 
supervisory letters; and  
3. 
fully comply with the provisions of this ORDER in a timely manner. 
 
2.  New CRB Credit Products and New Third Parties 
A. 
Identification of Current CRB Credit Products and Third Parties.  The Bank must, 
within 15 days from the effective date of this ORDER: 
1. 
identify each product through which Credit is being offered by, through, 
or in conjunction with the Bank (CRB Credit Product); and 
2. 
identify any entity other than the Bank offering a CRB Credit Product 
(Third Party) and the CRB Credit Product(s) it is offering. 
B. 
Current CRB Credit Products and Third Party List.  The Bank must, within 30 
days from the effective date of the ORDER, prepare and submit a list of all CRB Credit Products 
with an appropriately detailed description of each such CRB Credit Product and the Third Party 
offering it (Current CRB Credit Products and Third Parties List) to the Regional Director of 
the FDIC’s New York Regional Office (Regional Director) for review, and comment or non-
objection as to the adequacy of the descriptions in accordance with Paragraph 7.   
 
 
 

 
 
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C. 
New CRB Credit Products and New Third Parties.  For purposes of this ORDER:  
1. 
any CRB Credit Product not included on the Current CRB Credit Products 
and Third Parties List and any CRB Credit Product offered or to be offered by a Third Party not 
identified as offering the CRB Credit Product on the Current CRB Credit Products and Third 
Parties List is a new CRB Credit Product (New CRB Credit Product); and   
2. 
any Third Party not included on the Current CRB Credit Products and 
Third Parties List submitted to the Regional Director is a new Third Party (New Third Party). 
D. 
Non-Objection Required for All New Third Parties and New CRB Credit 
Products.  The Bank will not (i) execute a binding commitment or agreement with a New Third 
Party; (ii) allow a New Third Party to offer a Credit product through, or in conjunction with the 
Bank; and/or (iii) offer a New CRB Credit Product, either directly or indirectly, without first 
receiving the Regional Director’s written non-objection to do so.  The Bank must submit a New 
Third Party or New CRB Credit Product non-objection request with, at a minimum, the 
documentation and analysis outlined below, to the Regional Director for review, and comment or 
non-objection in accordance with Paragraph 7.   
 
1. 
A New Third Party non-objection request must, at a minimum, include: 
 
(a) 
a New Third-Party Risk Assessment, as defined below in 
paragraph 5.H.2, for the proposed New Third Party; 
(b) 
an appropriately detailed description of the procedures, processes, 
and/or other actions that the Bank will take to ensure compliance with applicable fair lending 
laws and regulations and satisfactorily mitigate any risks identified in the New Third-Party Risk 
Assessment; 

 
 
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(c) 
an appropriately detailed description of the procedures and/or 
processes that will be established by the Bank for the on-going monitoring of the proposed New 
Third Party for compliance with applicable fair lending laws and regulations and for 
appropriately addressing and preventing any noncompliance with such laws or regulations; 
(d) 
an appropriately detailed description of the procedures and 
processes that will be established by the Bank with respect to Information, as defined below in 
paragraph 3.A, related to the proposed New Third Party and the New CRB Credit Products it 
proposes to offer; 
(e) 
the proposed written agreement with the proposed New Third 
Party; and 
 
(f) 
the written assessment and recommendation submitted to the 
Board as to whether the proposed New Third Party meets the Bank’s due diligence standards and 
the Bank should proceed with executing a binding commitment or agreement with the New Third 
Party for approval; and, the minutes of the meeting of the Board authorizing the submission of 
the proposed New Third Party to the Regional Director for review, and comment or non-
objection in accordance with Paragraph 7. 
2. 
A New CRB Credit Product non-objection request must, at a minimum, 
include: 
 
(a) 
a New CRB Credit Product Risk Assessment, as defined below in 
paragraph 5.I.2, for the proposed New CRB Credit Product; 
(b) 
an appropriately detailed description of the procedures, processes, 
and/or other actions that the Bank will take to ensure compliance with applicable fair lending 

 
 
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laws and regulations and satisfactorily mitigate any risks identified in the New CRB Credit 
Product Risk Assessment; 
(c) 
an appropriately detailed description of the procedures and/or 
processes that will be established by the Bank for the on-going monitoring of the proposed New 
CRB Credit Product for compliance with applicable fair lending laws and regulations and for 
appropriately addressing and preventing any noncompliance with such laws or regulations; 
(d) 
an appropriately detailed description of the procedures and 
processes that will be established by the Bank with respect to Information, as defined below in 
paragraph 3.A, related to the proposed New CRB Credit Product; 
(e) 
any proposed amendments to the written agreement with the Third 
Party proposed to offer the New CRB Credit Product; and 
 
(f) 
the written assessment and recommendation submitted to the 
Board as to whether the proposed New CRB Credit Product meets the Bank’s due diligence 
standards and the Bank should proceed with offering the New CRB Credit Product for review 
and approval; and, the minutes of the meeting of the Board authorizing the submission of the 
proposed New CRB Credit Product to the Regional Director for review, and comment or non-
objection in accordance with Paragraph 7. 
3. 
The Regional Director will provide written notification to the Bank of the 
date on which a New Third Party or New CRB Credit Product non-objection request is deemed 
to be substantially complete, but may request additional information or analysis any time.  The 
Regional Director will act on a New Third Party or New CRB Credit Product non-objection 
request within 45 days of the date on which the request was deemed to be substantially complete, 

 
 
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but the failure of the Regional Director to act within this timeframe does not constitute non-
objection to a New Third Party or New CRB Credit Product non-objection request. 
E. 
Updating Current CRB Credit Products and Third Party List:  The Bank must, 
within 7 days of its receipt of a written non-objection from the Regional Director regarding a 
New Third Party or a New CRB Credit Product, update and resubmit the Current CRB Credit 
Products and Third Parties List to the Regional Director for review, and comment or non-
objection as to the adequacy of the descriptions in accordance with Paragraph 7. 
 
3.  Information Systems 
A.  Information Systems Review.  Within 60 days from the effective date of this ORDER, 
the Bank must submit a proposed engagement letter or contract to the Regional Director for 
review, and comment or non-objection in accordance with Paragraph 7 to engage an independent 
third party acceptable to the Regional Director to:  (i) assess whether the data, documents, 
records and/or any other information, in any medium or form, including textual, numerical, 
graphic, cartographic, narrative, or audiovisual (collectively, Information), related to each CRB 
Credit Product, every Third Party, and any models or systems, including any variables or 
weightings, used or relied on in connection with a CRB Credit Product (CRB Credit Model) is 
sufficiently complete, accurate, and accessible to enable the Bank to appropriately determine and 
monitor the compliance of such CRB Credit Products, Third Parties, and CRB Credit Models 
with all applicable fair lending laws and regulations; (ii) assess whether the networks, systems, 
devices, software, hardware and/or other information resource, tool, mechanism, or 
compensating control used by the Bank to collect, process, maintain, use, share, disseminate, or 
dispose of Information pertaining to a CRB Credit Product, Third Party, or a CRB Credit Model 

 
 
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(Information Systems) satisfactorily enable the Bank to access, collect, and analyze the 
Information necessary to appropriately monitor, in a timely manner, each CRB Credit Product, 
every Third Party, and any CRB Credit Models and ensure each such CRB Credit Product is 
offered and every Third Party and CRB Credit Model operates in compliance with applicable fair 
lending laws and regulations (Information Systems Assessment); and (iii) prepare a written 
report reflecting the findings of the Information Systems Assessment (Information Systems 
Report) at its conclusion.  The Information Systems Assessment must include a review and 
analysis of the Information Systems Report components required by Paragraph 3.B. below as of 
the date on which the Information Systems Assessment is commenced.  The engagement letter or 
contract must, at a minimum: 
1. 
describe the work to be performed under the engagement letter or contract; 
2. 
provide for unrestricted access to workpapers and personnel of the third 
party by the FDIC; and 
3. 
require that the Information Systems Assessment be completed and 
summarized in the Information Systems Report and delivered to the Bank within 90 days of the 
Regional Director’s non-objection to the proposed engagement letter or contract, with a copy 
delivered simultaneously to the Bank’s Directors’ Compliance Oversight Committee (DOC), the 
continuance and maintenance of which is required by Paragraph 6 of this ORDER, the Bank’s 
Internal Audit Department (IAD), and the Regional Director for review, and comment or non-
objection in accordance with Paragraph 7 of this ORDER. 
 
 

 
 
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B. 
Information Systems Report:  The Information Systems Report must, at a 
minimum, include: 
1. 
a detailed schedule of the CRB Credit Products, Third Parties, and CRB 
Credit Models assessed; 
2. 
a review and assessment of whether the Bank’s Information pertaining to 
each CRB Credit Product, Third Party, and CRB Credit Model assessed appropriately enables 
the Bank to determine whether such CRB Credit Products, Third Parties, and CRB Credit 
Models comply with applicable fair lending laws and regulations and to effectively monitor such 
compliance; 
3. 
a detailed schedule and description of any issues or concerns with respect 
to the completeness, quality, accuracy, and accessibility of the Information identified during the 
assessment; 
4. 
recommendations to address any Information issues and concerns 
identified; 
5. 
a review and assessment of whether the Information Systems satisfactorily 
enable the Bank to access, collect, and analyze the Information necessary to appropriately 
monitor, in a timely manner, each CRB Credit Product, every Third Party, and any CRB Credit 
Models and ensure each such CRB Credit Product is offered and every Third Party and CRB 
Credit Model operates in compliance with applicable fair lending laws and regulations; and 
6. 
recommendations to address any identified Information Systems issues 
and concerns. 
C. 
Information Systems Plan:  Within 45 days of receipt of the Regional Director’s 
non-objection to the Information Systems Report, the Bank must develop a written plan of action 

 
 
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(Information Systems Plan) appropriately addressing each recommendation contained in the 
Information Systems Report with a time frame for completing the recommended action; an 
alternative proposal to the recommended action with a satisfactory justification for such 
alternative and a time frame for completing it; or a satisfactory justification as to why the 
recommended action is not necessary or appropriate.  The Information Systems Plan must be 
submitted to the Regional Director for review, and comment or non-objection in accordance with 
Paragraph 7 of this ORDER.  In the event the Information Systems Plan, or any portion thereof, 
is not implemented or adhered to after its adoption by the Board, the DOC must promptly, but in 
no instance more than 7 days from such event, advise the Regional Director in writing of the 
specific reasons for deviating from the Information Systems Plan and the action it will take to 
address the deviation.  The Regional Director may either provide written non-objection to any 
such deviation or require compliance with the Information Systems Plan. 
 
4.  Fair Lending Compliance Risk Management 
A. 
Fair Lending Risk Assessment.  Within 60 days from the Regional Director’s 
non-objection to the Current CRB Credit Products and Third Parties List, the Bank must:  (i) 
conduct an initial risk assessment of all CRB Credit Products and all Third Parties on the Current 
CRB Credit Products and Third Parties List to identify fair lending risks, including any risks 
associated with an application (for purposes of this ORDER, the term “application” has the 
meaning ascribed to it in Regulation B, 12 C.F.R. § 1002.2(f), hereinafter, Application) and/or 
Credit Transaction c  onducted by, through or in conjunction with the Bank (CRB Credit 
Transaction) for compliance with applicable fair lending laws and regulations (Fair Lending 
Risk Assessment), and (ii) submit the initial Fair Lending Risk Assessment, and any subsequent 

 
 
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Fair Lending Risk Assessments prepared prior to the termination of this ORDER, to the Regional 
Director for review, and comment or non-objection in accordance with Paragraph 7 of this 
ORDER and to the IAD upon receipt of the Regional Director’s non-objection.  The Bank must 
ensure that its Marketplace Lending CMS includes written policies, procedures, and/or processes 
requiring comprehensive periodic risk-based Fair Lending Risk Assessments and their timing.  
These policies, procedures, and/or processes must appropriately take into account prior Fair 
Lending Risk Assessments, audit findings contained in audit reports prepared by or on behalf of 
the IAD or by or on behalf of a Third Party, and must incorporate the results of the Bank’s 
annual underwriting and pricing analyses.  The Bank must also ensure these policies, procedures, 
and/or processes require that:  (i) risk ratings resulting from the Fair Lending Risk Assessments 
are accurate and well supported by qualitative and quantitative data; and (ii) Fair Lending Risk 
Assessments conducted after the termination of the ORDER are submitted to the DOC for review 
and provided to the IAD after receipt of the DOC’s approval.   
B. 
Fair Lending Resources Study and Report.  Within 60 days from the effective date 
of this ORDER, the Bank must submit a proposed engagement letter or contract retaining an 
independent third party acceptable to the Regional Director to conduct a fair lending resources 
study (Fair Lending Resources Study) and to prepare a written summary of the Fair Lending 
Resources Study (Fair Lending Resources Report) at its conclusion to the Regional Director 
for review, and comment or non-objection in accordance with Paragraph 7.  The Fair Lending 
Resources Study must appropriately consider the Bank’s size and growth plans; the current and 
anticipated number of CRB Credit Products and their respective volumes; the current and 
anticipated number of Third Parties; and the current and anticipated number of merchants 
offering one or more CRB Credit Products through or in conjunction with a Third Party (Third-

 
 
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Party Merchants); the volume of decisions made by the Bank or on behalf of the Bank by a 
Third Party in connection with an Application, including Credit underwriting practices, a CRB 
Credit Transaction and/or any decisions made in connection with marketing of a CRB Credit 
Product, including the terms and conditions described in the marketing of a CRB Credit Product 
(CRB Decisions); and the Bank’s use of non-staff resources, including software, automated 
systems, and/or other technology (Non-Staff Fair Lending Resources), and must, at a minimum 
include a review and analysis of Non-Staff Fair Lending Resources, management, and other 
staffing necessary to ensure compliance with applicable fair lending laws and regulations for all 
CRB Credit Products offered, and CRB Credit Transactions, and appropriately address the fair 
lending weaknesses and deficiencies identified in the 2021 ROE.  The Fair Lending Resources 
Study must also assess the adequacy and effectiveness of Non-Staff Fair Lending Resources to 
accomplish stated objectives related to their use and reliance by the Bank for compliance with 
applicable fair lending laws and regulations, and the abilities, experience, and other 
qualifications of management and other staff having duties and responsibilities related to the 
Bank’s compliance with applicable fair lending laws and regulations (Fair Lending Personnel) 
to satisfactorily perform their present and anticipated fair lending-related duties and 
responsibilities, including those to ensure complete and timely compliance with the requirements 
of this ORDER.  The Fair Lending Resources Study must also include a review and analysis of 
each Fair Lending Resources Report component required by Paragraph 4.B.2. below as of the 
date on which the Fair Lending Resources Study is commenced. 
 
 

 
 
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1. 
Engagement Letter.  The engagement letter or contract must, at a 
minimum: 
(a) 
describe the work to be performed under the engagement letter or 
contract; 
(b) 
provide for unrestricted access to workpapers and personnel of the 
third party by the FDIC; and 
(c) 
require that the Fair Lending Resources Study be completed and 
summarized in the Fair Lending Resources Report and delivered to the Bank within 90 days of 
the Regional Director’s non-objection to the proposed engagement letter or contract, with a copy 
delivered simultaneously to the Regional Director for review, and comment or non-objection in 
accordance with Paragraph 7.  
2. 
Fair Lending Resources Report.  At a minimum, the Fair Lending 
Resources Report must: 
(a) 
identify any Non-Staff Fair Lending Resources and/or any 
enhancements to existing Non-Staff Fair Lending Resources necessary for complete and timely 
compliance with this ORDER, applicable fair lending laws and regulations, and the Fair Lending 
Internal Controls detailing any deficiencies in such resources and additional needs with 
appropriate consideration to any statutory or regulatory requirements; the size, complexity, and 
growth plans of the Bank; the current and anticipated number of CRB Credit Products and their 
respective volumes; current and anticipated number of Third Parties offering a CRB Credit 
Product by or in conjunction with the Bank; the current and anticipated number of Third-Party 
Merchants; and volume of CRB Decisions, and provide a clear and concise description of any 
Non-Staff Fair Lending Resource needs and/or enhancements recommended to existing Non-
Staff Fair Lending Resources; 

 
 
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(b) 
identify the type and number of managers needed to supervise Fair 
Lending Personnel, including those necessary to ensure the Bank’s complete and timely 
compliance with this ORDER, and the internal controls established to provide for compliance 
with applicable fair lending laws and regulations (Fair Lending Internal Controls), detailing 
any vacancies and additional needs with appropriate consideration to any statutory or regulatory 
requirements; the size, complexity, and growth plans of the Bank; the current and anticipated 
number of CRB Credit Products and their respective volumes; current and anticipated number of 
Third Parties; the current and anticipated number of Third-Party Merchants; the volume of  CRB 
Decisions, and the Bank’s use of Non-Staff Fair Lending Resources;  
(c) 
identify the type and number of Fair Lending Personnel positions 
needed for complete and timely compliance with this ORDER, applicable fair lending laws and 
regulations, and the Fair Lending Internal Controls noting the duties and responsibilities 
attributable to each position, providing a clear and concise description of the relevant knowledge, 
skills, abilities, and experience necessary for each position, including delegations of authority, 
reporting lines, and performance objectives, and detailing any vacancies and additional needs 
with appropriate consideration to any statutory or regulatory requirements; the size, complexity, 
and growth plans of the Bank, the current and anticipated number of CRB Credit Products and 
their respective volumes, current and anticipated number of Third Parties offering a CRB Credit 
Product by or in conjunction with the Bank and the current and anticipated number of Third-
Party Merchants, the volume of CRB Decisions, and the Bank’s use of Non-Staff Fair Lending 
Resources; and 
(d) 
recommend actions to be taken to retain and/or recruit qualified 
Fair Lending Personnel. 

 
 
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3. 
Fair Lending Resources Plan.  Within 45 days of receipt of the Regional 
Director’s non-objection to the Fair Lending Resources Report, the Bank must develop a written 
plan of action (Fair Lending Resources Plan) addressing each recommendation contained in 
the Fair Lending Resources Report with a time frame for completing the recommended action; 
an alternative proposal to the recommended action with a satisfactory justification for such 
alternative and a time frame for completing it; or a satisfactory justification as to why the 
recommended action is not necessary or appropriate.  The Fair Lending Resources Plan and any 
subsequent modification thereto must be submitted to the Regional Director for review, and 
comment or non-objection in accordance with Paragraph 7.  In the event the Fair Lending 
Resources Plan, or any portion thereof, is not implemented or adhered to after its adoption by the 
Board, the DOC must promptly, but in no instance more than 7 days from such event, advise the 
Regional Director in writing of the specific reasons for deviating from the Fair Lending 
Resources Plan and the action it will take to address the deviation.  The Regional Director may 
either provide written non-objection to any such deviation or require compliance with the Fair 
Lending Resources Plan.  The Fair Lending Resources Plan must, at a minimum: 
(a) 
contain a proposed organizational chart identifying proposed fair 
lending staff and manager positions delineating lines of authority and reporting (Proposed Fair 
Lending Org Chart); 
(b) 
summarize the duties and responsibilities, by position, of all Fair 
Lending Personnel; 
(c) 
contain clear and concise descriptions of the relevant knowledge, 
skills, abilities and experience necessary for each position on the Proposed Fair Lending Org 
Chart; 

 
 
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(d) 
establish requirements and processes to periodically evaluate each 
individual’s job performance; 
(e) 
establish processes to promote successful filling of positions 
identified by the Proposed Fair Lending Org Chart and their retention;  
(f) 
include a list and description of all Non-Staff Fair Lending 
Resources; 
(g) 
establish requirements and processes to periodically evaluate all 
Non-Staff Fair Lending Resources and replace, upgrade and/or enhance as appropriate; and 
(h) 
establish procedures to periodically review and update the Fair 
Lending Resources Plan. 
C. 
Fair Lending Internal Controls.  Within 45 days of receipt of the Regional 
Director’s non-objection to the Information Systems Plan, the Fair Lending Resources Plan, and 
the Fair lending Compliance Plan, the Bank must, to the extent not already developed, develop 
and submit the Bank’s Fair Lending Internal Controls to the Regional Director for review, and 
comment or non-objection in accordance with Paragraph 7 of this ORDER.  The Fair Lending 
Internal Controls must be reviewed periodically on a risk basis, but not less than annually, and 
adjusted as appropriate.  The Fair Lending Internal Controls must, at a minimum, include: 
1. 
Fair Lending Policies, Procedures, and/or Processes.  The Fair Lending 
Internal Controls must include policies, procedures, and/or processes (Fair Lending Policies 
and Procedures) designed to appropriately address and mitigate any risks identified in the Fair 
Lending Risk Assessment; require appropriate oversight and monitoring of all CRB Decisions to 
ensure compliance with applicable fair lending laws and regulations; and identify statistically 
significant disparities involving a prohibited basis (for purposes of this ORDER, the term 

 
 
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“prohibited basis” has the meaning ascribed to it in Regulation B, 12 C.F.R. § 1002.2(z)) under 
applicable fair lending laws and regulations (Disparities).  The Fair Lending Policies and 
Procedures must appropriately take into account and be consistent with the Third-Party 
Compliance Policies and Procedures, as defined in Paragraph 5 of this ORDER, and all other 
requirements of this ORDER.  The Fair Lending Policies and Procedures must include processes 
to:  (i) determine whether detected Disparities appear to be the result of one or more acts or 
practices that do not comply with applicable fair lending laws and regulations (Discriminatory 
Practice); (ii) determine the appropriate corrective measures and/or remedial action, including, 
e.g., restitution or Credit offers (Remedial Action) to address the apparent Discriminatory 
Practice and/or mitigation steps necessary to prevent reoccurrences of such apparent 
Discriminatory Practice; (iii) implement the appropriate corrective action and/or Remedial 
Action to address the apparent Discriminatory Practice; and (iv) establish appropriate mitigation 
steps to prevent reoccurrences of any apparent Discriminatory Practices;   
2. 
Fair Lending Training.  The Fair Lending Internal Controls must provide 
for appropriate fair lending training (Fair Lending Training) of all members of the Board; all 
compliance personnel, including Fair Lending Personnel; and any managers, IAD personnel, and 
other personnel with roles and responsibilities related to or involving CRB Credit Products 
(Trainee or Trainees).  The Fair Lending Internal Controls related to Fair Lending Training 
must, at a minimum, include: 
(a) 
policies, procedures, and/or processes to provide training designed 
to be commensurate with the Trainee’s respective duties and responsibilities with respect to the 
CRB Credit Products on the Current CRB Credit Products and Third Parties List, including 
Applications, CRB Decisions, and CRB Credit Transactions; and any Third Parties on the 

 
 
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Current CRB Credit Products and Third Parties List (Current Third Parties) and their Third-
Party Merchants, including any due diligence, oversight, and monitoring of the Current Third 
Parties, to enable the Trainee to satisfactorily fulfill their role(s) and responsibilities with respect 
to applicable fair lending laws and regulations;  
(b) 
policies, procedures, and/or processes to provide training designed 
to be commensurate with the Trainee’s respective duties and responsibilities with respect to 
compliance with this ORDER and any risk assessments, studies, reports, plans, policies, 
procedures, and processes required by this ORDER; 
(c) 
policies, procedures, and/or processes to update and promptly 
provide Fair Lending Training to appropriate Trainees to address:  (i) any New CRB Credit 
Products; (ii) any new or revised policy, procedure, process, plan or program related to Fair 
Lending; and/or (iii) the results of the training assessments required below; 
(d) 
policies, procedures, and/or processes to require initial and 
periodic assessments of training effectiveness (training assessments); and 
(e) 
policies, procedures, and/or processes to satisfactorily document 
training activities and training assessments. 
3. 
Fair Lending Monitoring.  The Fair Lending Internal Controls must 
provide for the satisfactory monitoring of CRB Decisions, CRB Credit Products, and Third 
Parties for compliance with applicable fair lending laws and regulations; and identify, analyze, 
and determine whether any Disparities resulted in an apparent Discriminatory Practice (Fair 
Lending Monitoring).  The Fair Lending Internal Controls related to Fair Lending Monitoring 
must, at minimum: 
(a) 
include policies, procedures, and/or processes designed to:  

 
 
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(1) 
appropriately monitor identified risks, including the risks 
identified in Fair Lending Risk Assessments, audit reports, whether issued by the IAD or an 
auditor associated with a Third Party, Fair Lending Compliance Reports, as defined in Paragraph 
4.C.4. of this ORDER, reports prepared by or on behalf of a Third Party pertaining in any way to 
the Third Party’s compliance with applicable fair lending laws and regulations, and any other 
analyses and reviews related to compliance with applicable fair lending laws and regulations;  
(2) 
establish statistical analysis and/or transaction testing 
requirements that appropriately consider actual underwriting and pricing factors used in 
connection with all CRB Decisions, CRB Credit Products and Third Parties; and  
(3) 
identify Disparities and then investigate, analyze, and 
determine whether any such Disparities resulted in an apparent Discriminatory Practice;  
(b) 
include policies, procedures, and/or processes to appropriately 
correct and prevent reoccurrences of any apparent Discriminatory Practices identified in a Semi-
Annual Fair Lending Monitoring Report required by Paragraph 4.C.3.(d) below or otherwise 
coming to the attention of the Bank; 
(c) 
include policies, procedures, and/or processes to appropriately 
assess whether Remedial Action to those affected by an apparent Discriminatory Practice 
identified in a Semi-Annual Fair Lending Monitoring Report or otherwise coming to the 
attention of the Bank is warranted; to determine the appropriate Remedial Action to be taken, 
and when and how such Remedial Action should be taken; and to monitor the completion of any 
such Remedial Action; 
(d) 
require the issuance of semi-annual written reports analyzing the 
fair lending monitoring data and results, including:  (i) a detailed description of any identified 

 
 
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Disparity and the status of the Bank’s investigation and analysis of such Disparity to determine 
whether it resulted in an apparent Discriminatory Practice; (ii) a detailed description of any 
apparent Discriminatory Practice identified; (iii) a detailed description of the actions taken by the 
Bank to correct and prevent reoccurrences of any apparent Discriminatory Practices identified; 
and (iv) a detailed summary regarding any Remedial Action taken or to be taken to address any 
apparent Discriminatory Practice identified and if no Remedial Action has been or will be taken, 
a detailed explanation of why Remedial Action is not necessary (Semi-Annual Fair Lending 
Monitoring Report).  Until the ORDER is terminated, Semi-Annual Fair Lending Monitoring 
Reports must be submitted to the Regional Director for review, and comment or non-objection in 
accordance with Paragraph 7 of this ORDER immediately after completion, and must be 
provided to the DOC and IAD after receipt of the Regional Director’s non-objection.  
Subsequent to the termination of the ORDER, Semi-Annual Fair Lending Monitoring Reports 
must be submitted to the DOC for review immediately after completion, and must be provided to 
the IAD after receipt of the DOC’s approval. 
4. 
Fair Lending Compliance Assessment.  Within 60 days from the effective 
date of this ORDER, the Bank must submit a proposed engagement letter or contract to the 
Regional Director for review, and comment or non-objection in accordance with Paragraph 7 to 
engage an independent third party acceptable to the Regional Director to:  (i) assess whether, 
during the timeframe starting January 1, 2021, through December 31, 2022, each Third Party 
offering one or more CRB Credit Products for a period of six months or more during such time 
frame offered these CRB Credit Products in compliance with applicable fair lending laws and 
regulations (Fair Lending Compliance Assessment); and (ii) prepare a written report reflecting 
the findings of the Fair Lending Compliance Assessment (Fair Lending Compliance Report).  

 
 
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The Fair Lending Compliance Assessment must, at a minimum, include a review and analysis of 
the Fair Lending Compliance Report components required by Paragraph 4.C.4.(b) below.   
(a) 
Engagement Letter.  The engagement letter or contract must, at a 
minimum: 
(1) 
describe the work to be performed under the engagement 
letter or contract; 
(2) 
provide for unrestricted access to workpapers and 
personnel of the third party by the FDIC; and 
(3) 
require that the Fair Lending Compliance Assessment be 
completed and summarized in a Fair Lending Compliance Report and delivered to the Bank 
within 90 days of the Regional Director’s non-objection to the proposed engagement letter or 
contract, with a copy delivered simultaneously to the DOC, the IAD, and the Regional Director 
for review, and comment or non-objection in accordance with Paragraph 7 of this ORDER.  
(b) 
Fair Lending Compliance Report.  The Fair Lending Compliance 
Report must, at a minimum, include: 
(1) 
a detailed description of each CRB Credit Product(s) 
offered by each Third Party assessed; 
(2) 
a review and assessment of each Third Party’s policies and 
procedures related to each CRB Credit Product offered as to whether the policies and procedures 
ensure compliance with applicable fair lending laws and regulations with any recommended 
changes or enhancements; 
(3) 
a detailed description of any CRB Decisions that do not 
appear to have been made in compliance with the Third Party’s policies or procedures and/or 

 
 
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applicable fair lending laws and regulations indicating whether the CRB Decision involved a 
Disparity;  
(4) 
an analysis of whether any of the CRB Decisions involving 
a Disparity resulted in an apparent Discriminatory Practice;  
(5) 
recommendations for the appropriate actions, including any 
corrective and preventive actions, where a Third Party is not in compliance with applicable fair 
lending laws and regulations; 
(6) 
recommendations as to whether Remedial Action to those 
affected by an apparent Discriminatory Practice or violation of applicable fair lending laws or 
regulations is warranted; the appropriate type and amount of any such Remedial Action; when 
and how the Remedial Action should be taken; and how the Remedial Action should be 
monitored and tracked. 
(c) 
Fair Lending Compliance Plan.  Within 45 days of receipt of the 
Regional Director’s non-objection to the Fair Lending Compliance Report, the Bank must 
develop a written plan of action (Fair Lending Compliance Plan) appropriately addressing each 
recommendation contained in the Fair Lending Compliance Report with a time frame for 
completing the recommended action; an alternative proposal to the recommended action with a 
satisfactory justification for such alternative and a time frame for completing it; or a satisfactory 
justification as to why the recommended action is not necessary or appropriate.  The Fair 
Lending Compliance Plan must be submitted to the Regional Director for review, and comment 
or non-objection in accordance with Paragraph 7 of this ORDER.  In the event a Fair Lending 
Compliance Plan, or any portion thereof, is not implemented or adhered to after adoption by the 
Board, the DOC must promptly, but in no instance more than 7 days from such event, advise the 

 
 
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Regional Director in writing of the specific reasons for deviating from the Fair Lending 
Compliance Plan and the action it will take to address the deviation.  The Regional Director may 
either provide a written non-objection to any such deviation or require compliance with the Fair 
Lending Compliance Plan. 
(d) 
Fair Lending Compliance Assessments by CRB.  The Bank must, 
to the extent not already developed, develop policies, procedures, and/or processes to conduct 
periodic, but not less than annual, assessments of whether each Third Party offering one or more 
CRB Credit Products for a period of six months or more during the calendar year preceding such 
assessment offered these CRB Credit Products in compliance with applicable fair lending laws 
and regulations.  These policies, procedures, and/or processes must be submitted to the Regional 
Director for review, and comment or non-objection in accordance with Paragraph 7 of this 
ORDER within 90 days from receipt of the Regional Director’s non-objection to the Fair 
Lending Compliance Report. 
 
5.  Third-Party Compliance Internal Controls 
Within 45 days of receipt of the Regional Director’s non-objection to the Information 
Systems Plan, the Fair Lending Resources Plan, and the Fair Lending Compliance Plan, the Bank 
must, to the extent not already developed, develop and submit the Bank’s Third-Party 
compliance internal controls (Third-Party Compliance Internal Controls) related to applicable 
fair lending laws and regulations to the Regional Director for review, and comment or non-
objection in accordance with Paragraph 7 of this ORDER.  The Bank’s Third-Party Compliance 
Internal Controls must include policies, procedures, and/or processes designed to ensure 

 
 
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compliance with applicable fair lending laws and regulations (Third-Party Compliance Policies 
and Procedures).  The Third-Party Compliance Policies and Procedures must, at a minimum: 
A. 
Consistent with Other Provisions.  The Third-Party Compliance Policies and 
Procedures must appropriately take all available Fair Lending Risk Assessments, Semi-Annual 
Fair Lending Monitoring Reports, Fair Lending Compliance Reports, and Fair Lending 
Compliance Plans into account and be consistent with the Fair Lending Policies and Procedures, 
and all other requirements of this ORDER;  
B. 
Corrective Action.  The Third-Party Compliance Policies and Procedures must 
require that any deficiencies, weaknesses and/or instances of noncompliance with applicable fair 
lending laws or regulations involving or related to a Third Party identified in the 2021 ROE 
and/or any subsequent consumer compliance report of examination, visitation report, or 
supervisory letter, Fair Lending Risk Assessment, Third-Party Compliance Risk Report and/or 
Third-Party Compliance Risk Management Plan are appropriately addressed and/or corrected; 
C. 
CRB Decision Records.  The Third-Party Compliance Policies and Procedures 
must require that all Information related to a CRB Decision or CRB Credit Model (collectively, 
CRB Decision Records) be collected by the Bank or a Third Party and readily accessible by the 
Bank; satisfactorily sampled to ensure the information necessary to perform fair lending 
monitoring, audits, and system validations is included, accurate, and complete; and the CRB 
Decision Records are retained in compliance with all applicable regulations and are fully 
accessible to Bank personnel and Federal and State regulatory agencies;   
D. 
Oversight and Monitoring.  The Third-Party Compliance Policies and Procedures 
must require appropriate oversight and monitoring of all CRB Decisions made by a Third Party,  

 
 
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and establish standards and processes for such oversight and monitoring, appropriately taking 
into account the complexity, risk profile, and transaction volume of such Third Party’s 
operations, including the CRB Credit Products offered by the Third Party, the adequacy of the 
Third Party’s compliance program, the number of Third-Party Merchants, transaction volume of 
the Third-Party Merchants, and the Third Party’s oversight of Third-Party Merchants; 
E. 
Third Party/Third-Party Merchant Corrective and Preventive Action.  The Third-
Party Compliance Policies and Procedures must require appropriate corrective and preventive 
action when noncompliance with applicable fair lending laws or regulations by either a Third 
Party or a Third-Party Merchant is identified and require the establishment of appropriate 
mitigation steps to prevent reoccurrences of any such noncompliance; 
F. 
Third Party/Third-Party Merchant Remedial Action.  The Third-Party Compliance 
Policies and Procedures must require appropriate Remedial Action when apparent 
Discriminatory Practices by either a Third Party or a Third-Party Merchant are identified; 
G. 
Third Party/Third-Party Merchant Marketing Materials.  The Third-Party 
Compliance Policies and Procedures must establish appropriate oversight and on-going 
monitoring and validation of all marketing materials, including the availability of terms and 
conditions offered in connection with a CRB Credit Product, distributed by a Third Party and/or 
a Third-Party Merchant; and 
H. 
New Third Party Due Diligence.  The Third-Party Compliance Policies and 
Procedures must establish appropriate due diligence policies and procedures for any proposed  
 
 

 
 
Page 27 of 34 
 
New Third Party that: 
1. 
set standards for and require the collection of sufficient information about 
the New Third Party to appropriately assess risks associated with the New Third Party; such 
standards must, at a minimum, include the New Third Party’s name and address, the New CRB 
Credit Products it proposes to offer, and any categories of merchants that will offer one or more 
of these proposed New CRB Credit Products through or in conjunction with the New Third Party 
and the Bank (New Third-Party Merchants); 
2. 
require an initial thorough and well-documented review and assessment of 
risks associated with the New Third Party (New Third-Party Risk Assessment), including the 
internal controls established by the New Third Party to ensure compliance with applicable 
consumer protection laws and regulations, including any related information systems and internal 
audit procedures, Credit policies and procedures, any models or systems, including any variables 
or weightings, used or relied on in connection with a proposed New CRB Credit Product, 
Application forms, marketing materials, and oversight and monitoring procedures related to any 
New Third-Party Merchants (collectively, New Third-Party Internal Controls) and then 
periodic, but not less than annual, risk assessments of the New Third-Party Internal Controls; 
3. 
require a written assessment and recommendation of the actions necessary 
to satisfactorily mitigate any risks identified in a New Third-Party Risk Assessment and ensure 
compliance with applicable fair lending laws and regulations for all proposed New CRB Credit 
Products; 
4. 
require written recommendations for the establishment of processes for the 
on-going monitoring of New Third Parties and New Third-Party Internal Controls, including the  

 
 
Page 28 of 34 
 
monitoring of Third-Party Merchants, for compliance with applicable fair lending laws and 
regulations and for appropriately addressing and preventing any noncompliance with such laws 
or regulations; 
5. 
require a comprehensive written agreement with a New Third Party clearly 
documenting and defining the specific duties and responsibilities of each party in connection 
with the offering of all proposed New CRB Credit Products.  Such agreements must, at a 
minimum: 
(a) 
ensure full and timely access by Bank employees and the 
appropriate federal and state regulatory agencies to all information necessary to perform fair 
lending monitoring, audits, and validations of the New Third-Party Internal Controls; 
(b) 
require initial and then periodic training for all New Third Party 
personnel assigned any duties or responsibilities related to the New Third-Party Internal Controls 
commensurate with their assigned duties and responsibilities with training assessments to 
appropriately assess the effectiveness of their training and satisfactory documentation of all 
training activities and training assessments.  Such training must be promptly updated and 
provided to appropriately address any New CRB Credit Products added to the Current CRB 
Credit Products and Third Parties List, any changes in the New Third-Party Internal Controls, 
and the results of the required training assessments;  
(c) 
require the New Third Party to collect and maintain information 
and documentation necessary for the appropriate oversight and monitoring of its Third-Party 
Merchants offering CRB Credit Products, including related Application forms, Credit terms and  
 

 
 
Page 29 of 34 
 
conditions, and marketing materials for compliance with applicable consumer protection laws 
and regulations;  
6. 
require all due diligence processes be satisfactorily completed; and 
7. 
require a written assessment and recommendation as to whether the 
proposed New Third Party meets the due diligence standards and the Bank should proceed with 
executing a binding commitment or agreement with the New Third Party be submitted to the 
Board for approval and that no binding commitment or agreement with a New Third Party be 
executed by the Bank unless and until the approval of the Board has been provided. 
I. 
New CRB Credit Product Due Diligence.  The Third-Party Compliance Policies 
and Procedures must establish appropriate due diligence policies and procedures for any 
proposed New CRB Credit Product that: 
1. 
require the collection of detailed information about the New CRB Credit 
Product and any Third Parties and the categories of Third-Party Merchants that plan to offer the 
New CRB Credit Product through or in conjunction with these Third Parties; 
2. 
require an initial thorough and well-documented review and assessment of 
risks associated with the New CRB Credit Product (New CRB Credit Product Risk 
Assessment), including any modifications of internal controls established by Third Parties 
identified on the Current CRB Credit Product and Third Parties List and then periodic, but not 
less than annually, risk assessments of these internal controls; 
3. 
require a written assessment and recommendation of the actions that 
would be required of a Third Party to satisfactorily mitigate any risks identified in a New CRB 

 
 
Page 30 of 34 
 
Credit Product Risk Assessment and ensure compliance with applicable consumer protection 
laws and regulations when offered through or in conjunction with the Bank; 
4. 
require written recommendations for the establishment of processes for the 
on-going monitoring of the Third Party proposing to offer the New CRB Credit Product for 
compliance with applicable consumer protection laws and regulations and for appropriately 
addressing and preventing any noncompliance with such laws or regulations;  
5. 
require all due diligence processes be satisfactorily completed; and  
6. 
require a written assessment and recommendation as to whether the 
proposed New CRB Credit Product meets the due diligence standards and the Bank should 
proceed with adding the New CRB Credit Product be submitted to the Board for approval and 
that no New CRB Credit Product be offered unless and until the written approval of the Board 
has been provided. 
 
6. 
Directors’ Compliance Oversight Committee 
A. 
DOC Maintenance.  The Board must continue and maintain its DOC and ensure 
that it is comprised of at least three independent directors (directors who are independent of 
management and are not, and within the preceding fiscal year have not been, an officer or 
employee of the institution or any affiliate of the institution) acceptable to the Regional Director.  
Nothing herein diminishes the responsibility of the entire Board to ensure compliance with the 
provisions of this ORDER in a timely manner. 
B. 
DOC Plan.  Within 45 days of the effective date of this ORDER, the DOC must 
submit a written plan detailing how the Board will ensure the requirements of this ORDER are  

 
 
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met in a timely manner (DOC Plan) to the Regional Director for review, and comment or non-
objection in accordance with Paragraph 7 of this ORDER.  The DOC Plan must, at a minimum:  
(i) note the action to be taken to meet the requirements of this ORDER; (ii) establish the date by 
which such actions will be taken; and (iii) establish the means by which the DOC will monitor 
the status of these corrective actions and ensure timely compliance with this ORDER. 
C. 
DOC Report.  The DOC must submit a written report (DOC Report) detailing the 
status of all actions required in connection with this ORDER to the Board for consideration at 
each regularly scheduled meeting occurring after the effective date of this ORDER.  The DOC 
Report and any discussion related to it or this ORDER must be included in the minutes of the 
corresponding Board meeting.  The DOC Report must be submitted to the Regional Director as 
part of the progress reports required by Paragraph 8 of this ORDER, noting any action taken by 
the Board based on them.   
 
7. 
Non-objection, Implementation and Adherence 
A. 
Review, Comment or Non-objection:  When a provision of this ORDER requires 
the Bank to submit new proposed plans, policies, or processes; proposed revisions or additions to 
an existing plan, policy, or process; or any other matter to the Regional Director for review, and 
comment or non-objection (Submission), the Bank will make the Submission to the Regional 
Director as a PDF document through the FDIC’s Secure Email portal (securemail.fdic.gov) using 
e-mail address: NYMailRoomfdic.gov.  The Regional Director may request in writing additional 
information or analysis in support of or in connection with any Submission from the Bank, and 
the Bank may request clarification of the Regional Director’s request for additional information 
or analysis, but must provide such information or analysis or request additional time to provide 

 
 
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the information or analysis with a reasonable justification of such request within the time frame 
set in the written request.  Within 45 days of receipt of comments from the Regional Director, 
the Bank will make such modifications as may be necessary to respond to the Regional 
Director’s comments and resubmit the Submission for review, additional comments or non-
objection.  If the Bank fails to make such modifications, or otherwise fails to address the 
comments of the Regional Director within such 45 day period, the Bank will provide a 
comprehensive written explanation of its failure to take action to the Regional Director.   
B. 
Adoption, Implementation and Adherence:  For Submissions receiving the written 
non-objection of the Regional Director, the Board will, at its next regularly scheduled meeting, 
adopt the plan, policy, or process as non-objected to by the Regional Director; incorporate the 
revision or addition to the plan, policy, or process as non-objected to by the Regional Director 
into the plan, policy, or process and adopt the plan, policy, or process with the pertinent revision 
or addition; or adopt any other matter for which it received non-objection.  These actions must be 
appropriately reflected in the Board minutes.  Thereafter, the Board must ensure that the Bank 
fully implements and adheres to the plan, policy, process, or other matter as adopted and enforce 
full and complete compliance with these plans, policies, processes, or other matters.  In the event 
these plans, policies, processes, or other matters as adopted by the Board, or any portion thereof, 
are not fully implemented or adhered to, the Board must promptly, in no instance more than 7 
days from the event, advise the Regional Director in writing of the specific reasons for the 
deviation or delay and the action it will take to address the deviation or delay.  The Regional 
Director may either provide a written non-objection to any such deviation or delay or require 
compliance with the plan, policy, process, or other matter. 
 

 
 
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8.  Progress Reports 
Within 60 days from the end of each calendar quarter following the effective date of this 
ORDER, the Bank must furnish written progress reports detailing the form, manner, and results 
of any actions taken to secure compliance with this ORDER to the Regional Director.  All 
progress reports must be reviewed and approved by the Board and be made a part of the Board 
minutes. 
 
9.  Shareholder Disclosure 
Within 30 days from the effective date of this ORDER, the Board must provide its parent 
holding company, CRB Group, Inc., with either an accurate and complete description of all 
material aspects of the ORDER or a copy of the ORDER. 
 
10.  Miscellaneous 
A. 
Other Actions.  The provisions of this ORDER do not bar, estop, or otherwise 
prevent the FDIC or any other federal or state agency or department from taking any other action 
against the Bank or any of the Bank’s current or former any IAPs, including any action under 12 
U.S.C. § 1818(b)(6) or 12 U.S.C. § 1818(i), arising from, out of, or related to the facts and 
circumstances forming the basis of this ORDER; or in any way prevent the FDIC from 
conducting on-site reviews, visitations, and/or examinations of the Bank, its affiliates, agents, or 
Third-Parties at any time to monitor compliance with this ORDER. 
B. 
Successors and Assigns.  The provisions of this ORDER are binding on the Bank, 
its IAPs, and any successors and assigns thereof. 
 
 

 
 
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C. 
Effective Date.  This ORDER is effective on the date of issuance, and its 
provisions will remain effective and enforceable unless and until it is modified, terminated, 
suspended, or set aside in writing by the FDIC.   
Issued Under Delegated Authority this 8th day of March, 2023. 
 
 
/s/ 
 
 
 
 
 
Frank R. Hughes 
Regional Director 
New York Region 
    Federal Deposit Insurance Corporation

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