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Article: Nara Bancorp, Inc. Announces Termination of Consent Order as of Jan. 22, 2003.
- Article from:
- Business Wire
- Article date:
- January 27, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
LOS ANGELES--(BUSINESS WIRE)--Jan. 27, 2003
Nara Bancorp, Inc. (Nasdaq:NARA) (the "Company") and its wholly owned subsidiary, Nara Bank, N.A., (the "Bank") are proud to announce that, as of January 22, 2003, the Office of the Comptroller of the Currency ("OCC") has terminated the Stipulation and Consent to the Issuance of a Consent Order pursuant to 12 U.S.C. 1818 (the "Consent Order"), less than one year after the Consent Order was negotiated and agreed to by the Bank and its board of directors. The Bank, without admitting to any allegations, entered into the Consent Order on February 20, 2002, in connection with alleged deficiencies ...