November 05, 2026

Federal Reserve Board Announces Termination of Enforcement Action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc

WASHINGTON—In an official regulatory update released on Thursday morning, the Federal Reserve Board announced the formal termination of a long-standing enforcement action involving several linked financial entities based in Southern California. The decision marks a significant milestone for the institutions, concluding a regulatory oversight process that began more than five years ago.

According to the central bank’s announcement, which was made public at 11:00 a.m. EST on November 5, 2026, the regulatory agreement affecting Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc—all located in Irvine, California—was officially brought to a close late last month. Specifically, the Written Agreement that had been in place since February 24, 2021, was formally terminated on October 21, 2026.

The lifting of the enforcement action removes a notable chapter of regulatory supervision for the Irvine-based bank holding companies and their subsidiary banking institution. Written agreements of this nature are formal, public administrative actions issued by the Federal Reserve Board and other federal banking agencies to address supervisory concerns, financial vulnerabilities, or operational deficiencies identified during routine examinations. When these corrective measures are deemed to have been fully satisfied and the underlying institution has demonstrated sustained compliance and financial stability, the regulatory board takes the formal step of terminating the agreement.

The original supervisory document, which governed the operations of Allegiant United Holdings, Nano Financial Holdings, and Nano Banc during the height of the post-pandemic economic shifts, had mandated specific internal improvements and risk-management protocols. Over the years following the 2021 directive, the institutions worked under the close observation of federal regulators to meet the rigorous standards outlined by the central bank. The October 21 termination date signifies that the Federal Reserve Board has recognized the fulfillment of these corrective requirements, allowing the entities to move forward free from the restrictions and reporting mandates imposed by the 2021 agreement.

For stakeholders, regulators, and industry observers tracking the financial sector in Southern California, the resolution of the enforcement action highlights the ongoing evolution and stabilization of regional banking institutions. Regulatory actions by the Federal Reserve are designed to ensure the safety and soundness of the United States banking system, protecting depositors and maintaining public confidence in financial intermediaries. The successful conclusion of a written agreement typically indicates that an institution has successfully addressed capital adequacy, risk management, and governance standards to the satisfaction of federal examiners.

The Federal Reserve Board maintains a comprehensive public database of all administrative and enforcement actions taken against financial institutions under its jurisdiction. Interested parties and researchers looking for historical records or additional supervisory documents can search the complete repository through the official Federal Reserve portal online.

Media organizations and journalists seeking further information regarding the termination of the agreement with Allegiant United Holdings, Nano Financial Holdings, and Nano Banc, or inquiring about general board procedures, are directed to contact the Federal Reserve Board’s media relations office via email at [email protected] or by telephone at 202-452-2955.