Local bank operating under FDIC consent order

Albuquerque-based Southwest Capital Bank is working to comply with a consent order from the Federal Deposit Insurance Corp. and the New Mexico Financial Institutions Division after agreeing to the order that requires the bank to make improvements in 13 aspects of bank operations.

The bank agreed to the consent order in November, “without admitting or denying any charges of unsafe or unsound banking practices or violations of law or regulation relating to weaknesses in the bank’s compliance with…

Source: The Business Journal