Utah bank fined for failure to pay FDIC assessment

The FDIC has issued a consent order for the payment of a civil money penalty of $6,097.72 against The Pitney Bowes Bank, Inc., after determining that the bank violated 12 U.S.C. § 1817 and 12 C.F.R. Part 327 by failing to take all actions necessary to allow the FDIC to debit the Bank’s designated deposit account to pay its required deposit insurance assessment for the quarter ending December 29, 2023. There was no dispute between the FDIC and the bank over the amount of the assessment owed for the fourth quarter of 2023.

The bank neither admits nor denies the violation.