The Federal Reserve Board has terminated its enforcement action with Allegiant United Holdings, Nano Financial Holdings, and Nano Banc, concluding a multi-year oversight process.

The Federal Reserve Board announced on November 5, 2026, that it has terminated its enforcement action involving Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc. This decision concludes a regulatory process that began with a written agreement in February 2021 and escalated to a consent cease-and-desist order in January 2022.

The Federal Reserve's oversight of Allegiant United Holdings, Nano Financial Holdings, and Nano Banc began with a February 24, 2021, written agreement with the Federal Reserve Bank of San Francisco. This agreement required the companies to address corporate governance, board and management structures, and staffing, as well as to submit a capital-maintenance plan within 60 days.

On January 18, 2022, the Federal Reserve issued a consent cease-and-desist order after identifying additional deficiencies, including unsecured loans to shareholders of Nano Financial. The order mandated the appointment of permanent executive officers and required quarterly compliance-progress reports. It also prohibited changes to approved remedial plans without prior approval from the Federal Reserve Bank.

The Federal Reserve previously announced on April 1, 2025, that the January 2022 cease-and-desist order had been terminated as of March 20, 2025. However, the termination of the November 2026 enforcement action marks the conclusion of the broader regulatory oversight process. The announcement did not provide details on the specific basis for the termination or quantify the impact of the enforcement actions on the companies or Nano Banc.

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