On November 5, 2026, the Federal Reserve Board announced the termination of its enforcement action against Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, all based in Irvine, California. The written agreement dated February 24, 2021 was terminated on October 21, 2026.
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Trading assets at the largest U.S. banks neared $3.7 trillion in Q2 2026, almost 50% above the end of 2024, according to the St. Louis Fed. The analysis found these assets have doubled since the end of 2019 and now make up about 20% of assets at eight U.S. global systemically important banks, including Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase. Trading revenue reached $117 billion in 2025, after falling to $62 billion in 2022. The author linked the size of trading books to a U.S. stock market valued at $75.3 trillion and $51.4 trillion in fixed income outstanding, as well as a rule adopted in 2025 that lowered leverage-ratio capital requirements and expanded balance-sheet capacity. The analysis did not quantify how much of the increase resulted from that rule.
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The Federal Reserve Board said three enforcement actions against Small Business Bank and its parent are no longer active, with terminations effective Oct. 13 after the Lenexa lender closed on July 17. The terminated actions were a Sept. 1, 2023 cease-and-desist order against the bank and Gardner Bancshares, Inc., a Nov. 13, 2024 order against the bank, and a June 29, 2026 prompt corrective action directive, and the Fed did not explain the terminations. The Kansas Office of the State Bank Commissioner tied the closure to ongoing operating losses, and the FDIC was appointed receiver. The Farmers State Bank of Oakley took over nearly all deposits, while the bank held $73 million in assets and about $69 million in deposits at March 31, 2026. The FDIC estimates the failure will cost the Deposit Insurance Fund about $5.7 million, subject to revision as it sells retained assets.
- Fed Ends Enforcement Actions Against Gardner Bancshares , Small Business Bank
The Federal Reserve Board has announced the termination of three enforcement actions against Gardner Bancshares, Inc. and Small Business Bank, both based in Lenexa, Kansas. The actions include cease and desist orders dated September 1, 2023 and November 13, 2024, and a prompt corrective action dated June 29, 2026. All three were terminated on October 13, 2026.
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