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, the Federal Reserve Board announced the formal termination of a long-standing enforcement action involving several Southern California-based financial entities. The regulatory closure marks a significant milestone for the institutions, releasing them from the formal oversight constraints that had been in place for more than five years.

According to the central bank’s announcement, the terminated enforcement action directly involves Allegiant United Holdings, LLC, located in Irvine, California, alongside its affiliate Nano Financial Holdings, Inc., also based in Irvine, and their subsidiary banking institution, Nano Banc, which maintains its headquarters in the same city. The regulatory action being lifted stems from a historical Written Agreement that was originally executed between the Federal Reserve Board and the aforementioned institutions on February 24, 2021.

Federal Reserve officials confirmed that the formal termination of the 2021 Written Agreement took effect earlier last month on October 21, 2026. With this administrative action now finalized, the regulatory restrictions and remedial obligations mandated under the original agreement are no longer active for Allegiant United Holdings, Nano Financial Holdings, or Nano Banc.

Written agreements of this nature are typically deployed by the Federal Reserve Board as formal, public administrative measures utilized to address safety and soundness concerns, compliance deficiencies, or operational weaknesses identified during routine or targeted bank examinations. When a banking organization or its holding company enters into a written agreement with its primary federal regulator, it is typically required to undertake specific corrective measures, enhance risk management frameworks, improve internal controls, or maintain designated capital and liquidity levels.

In the case of the 2021 agreement involving Nano Banc and its parent holding companies, the institutions have spent the intervening years working alongside regulators to fulfill the stipulations outlined in the document. The decision by the Federal Reserve Board to terminate the agreement indicates that the regulatory authorities have determined that the institutions have successfully addressed the supervisory concerns that initially prompted the enforcement action.

The conclusion of this regulatory chapter provides the Irvine-based financial entities with a clean slate as they navigate the current economic and banking environment. Regulatory enforcement actions often impose operational limitations or require prior supervisory clearance for certain corporate activities, and their removal typically allows management teams to refocus entirely on strategic growth, customer service, and core financial operations without the shadow of an active supervisory agreement.

For financial analysts, regulatory observers, and institutional stakeholders monitoring the banking sector in California and across the broader United States, the Federal Reserve maintains a comprehensive and publicly accessible repository of historical and active enforcement actions. Researchers and interested parties can review additional supervisory documents, cease-and-desist orders, prompt corrective action directives, and written agreements through the official search tools provided on the Federal Reserve Board’s website.

As is standard protocol for regulatory announcements of this scale, the Federal Reserve Board has made the historical documentation readily available for public review. The original Written Agreement dated February 24, 2021, remains accessible via the central bank’s digital archives for those seeking detailed contextual information regarding the initial scope of the supervisory matter.

For members of the media, financial journalists, and industry researchers seeking further information or official commentary regarding the termination of the enforcement action, the Federal Reserve Board has directed all inquiries to its central press office. Inquiries may be submitted electronically via email or by contacting the media relations desk directly at the agency’s headquarters in Washington, D.C.