Federal Reserve Board Terminates 2021 Written Agreement With Allegiant United Holdings, Nano Financial Holdings, and Nano Banc
Key Takeaways
- •The Federal Reserve terminated a Written Agreement originally signed on February 24, 2021, which had covered Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, all located in Irvine, California.
- •The termination took effect on October 21, 2026, approximately two weeks before the Board publicly announced it on November 5, 2026.
- •The enforcement action was issued roughly five years and eight months before its termination was announced.
- •The agreement named the holding companies and the operating bank together, as such actions typically cover every tier of a banking organization.
- •The terminated agreement no longer imposes requirements on the institutions but remains part of their public enforcement record in the Board's database.
Washington, D.C. — November 5, 2026 — The Federal Reserve Board on Thursday announced the termination of an enforcement action that had been in place since 2021 against Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, all based in Irvine, California.
The terminated action was a Written Agreement dated February 24, 2021. According to the Board, the agreement was terminated effective October 21, 2026, roughly two weeks before the public announcement. The announcement was released at 11:00 a.m. EST, and the original agreement remains publicly available as a PDF on the Federal Reserve's website.
Written agreements are one of the enforcement tools the U.S. central bank uses when a supervised banking organization engages in unsafe or unsound practices or violates laws or regulations. Such agreements typically outline corrective measures an institution commits to take — in areas like governance, capital, or compliance — with terms varying according to the deficiencies identified, and noncompliance can expose an institution to further enforcement measures. The Board routinely publishes such actions, along with their terminations, in its public enforcement actions database, which can be searched here.
Actions like this one commonly name every tier of a banking organization — holding companies and the operating bank — rather than the bank alone. With the termination effective, the agreement no longer imposes requirements on the named institutions, though it remains part of their public enforcement record in the Board's database — the same place any future action involving the three entities would appear.
The termination was announced roughly five years and eight months after the agreement was signed. The announcement itself was limited to the names of the entities involved, the date of the original agreement, and the termination date, and did not include additional detail.
The full press release is available on the Federal Reserve's website. Media inquiries may be directed to the Board's press office at 202-452-2955.
