The Federal Reserve Board has released Metropolitan Bank Holding in New York from a January 2011 enforcement action.
The written agreement required Metropolitan to increase board oversight and ensure compliance with a November 2010 consent order from the Office of the Comptroller of the Currency. The $635 million-asset Metropolitan also agreed to submit a capital plan and refrain from paying dividends or taking on more debt without regulatory approval.
Metropolitan was released from the OCC consent order in May 2013.
The company's bank switched to a state charter late last year. It also changed its name from Metropolitan National Bank to Metropolitan Commercial Bank.