Carver Bancorp Inc. has announced that its subsidiary, Carver Federal Savings Bank, has entered into a formal written agreement with the Office of the Comptroller of the Currency $(OCC)$ as of May 14, 2025. This Formal Agreement mandates the Bank to take several actions to enhance its compliance and performance. Key measures include establishing a Compliance Committee within its Board of Directors, preparing a three-year strategic plan focusing on earnings performance, and designing an earnings program to improve and sustain the Bank's profitability. The Bank's board and management are committed to addressing these provisions promptly and achieving sustainable earnings under the guidance of its new CEO.
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