Order Terminating Cease and Desist Order Between OCC and MetaBank
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Summary
This document is an official order from the Office of the Comptroller of the Currency (OCC) terminating a previous cease and desist order issued against MetaBank of Storm Lake, Iowa. The original order was intended to protect the bank’s depositors, shareholders, and customers and ensure safe operations. The OCC now finds that the order is no longer necessary and formally ends it. The termination is authorized and signed by the Assistant Deputy Comptroller for Bank Supervision.
EX-10.1 2 ex10_1.htm EXHIBIT 10.1
Exhibit 10.1
UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
OFFICE OF THE COMPTROLLER OF THE CURRENCY
| In the Matter of: | ) |
| MetaBank | ) |
| Storm Lake, Iowa | ) |
ORDER TERMINATING THE
ORDER TO CEASE AND DESIST
WHEREAS, in an effort to protect the depositors, shareholders and other customers of MetaBank, Storm Lake, Iowa (Bank), and to ensure the Bank’s safe and sound operation, the Bank, by and through its duly elected and acting Board of Directors, consented to the issuance of an Order to Cease and Desist dated July 15, 2011 (Order) against the Bank by the Office of Thrift Supervision (OTS).
WHEREAS on or about July 21, 2011, pursuant to Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 Stat. 1376 (2010), all functions of the OTS related to Federal savings associations were transferred to the Office of the Comptroller of the Currency (“OCC”).
WHEREAS, the Comptroller believes that the protection of the depositors, shareholders and other customers of the Bank, as well as its safe and sound operation, no longer require the existence of the Order.
NOW, THEREFORE, the Comptroller directs that the Order be, and it hereby is, TERMINATED.
IN TESTIMONY WHEREOF, the undersigned, designated by the Comptroller as his authorized representative. has hereunto set his hand.
| /s/ Thomas J. Sutcliffe | 8/7/14 | |
| Thomas J. Sutcliffe | Date | |
| Assistant Deputy Comptroller for Bank Supervision | | |
| Sioux Falls Field Office | |
