Carver Bancorp Inc. Enters Formal Agreement with OCC to Enhance Compliance and Strategic Planning

Reuters
05-17
Carver Bancorp Inc. Enters Formal Agreement with OCC to Enhance Compliance and Strategic Planning

Carver Bancorp Inc. has announced that its subsidiary, Carver Federal Savings Bank, has entered into a formal written agreement with the Office of the Comptroller of the Currency $(OCC)$ as of May 14, 2025. This Formal Agreement mandates the Bank to take several actions to enhance its compliance and performance. Key measures include establishing a Compliance Committee within its Board of Directors, preparing a three-year strategic plan focusing on earnings performance, and designing an earnings program to improve and sustain the Bank's profitability. The Bank's board and management are committed to addressing these provisions promptly and achieving sustainable earnings under the guidance of its new CEO.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Carver Bancorp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000943374-25-000211), on May 16, 2025, and is solely responsible for the information contained therein.

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