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Fed Sticks It to Three Banks
There are some chairs being thrown at Compass Bank, First National Bancshares and Capitol Bancorp today. The three banks were hit with enforcement actions from the Federal Reserve Board.
While First National and Capitol were hit for safe-and-soundness issues, Compass Bank is paying a fine of more than $70,000 for money-transfer violations.
The Fed has doled out 134 enforcement actions so far this year, mostly forcing banks to shore up their risk exposure, compared to around 66 for all of 2008.
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