The Federal Reserve Board on Thursday announced the termination of its enforcement action against Johnson Financial Group and Johnson Bank of Racine.
Last year, the Federal Reserve Bank of Chicago and Wisconsin Department of Financial Institutions announced a signed agreement requiring certain improvements and management practices by Johnson Bank and its parent holding company Johnson Financial Group.
The action came after Johnson Bank announced in January 2011 a $135 million loss for 2010. Read more about the bank’s progress in the BizTimes Morning Headlines.
