Fed terminates action against MO bank

A consent order citing deceptive acts or practices related to balance transfer credit cards offered through third parties by Mid America Bank & Trust Company in Dixon, Mo., was terminated Tuesday by the Federal Reserve Board, the Fed announced.

The October 2017 order directed the bank to pay some $5 million in restitution to affected card holders and to make enhancements to its compliance risk management program, including through stronger board oversight.

Federal Reserve Board announces termination of enforcement action with Mid America Bank and Trust Company