OCC Issues Warning about Unauthorized Bank

The OCC today issued a statement about a supposedly Florida-based entity called Faith National Bank, which the OCC said is not authorized to conduct business as a national bank. According to its website, the unauthorized entity purports to offer credit and debit cards, mobile banking, FDIC-insured deposit accounts and loans; however, the entity is not listed by the FDIC as an insured institution. It also falsely includes on its website a number of individuals supposedly associated with the bank as staff or board members, many of whom are otherwise affiliated with legitimate banking organizations.


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Evan Sparks

Evan Sparks is editor-in-chief of the ABA Banking Journal and vice president for publications at the American Bankers Association.