Federal Reserve ends enforcement action against FTX-linked Farmington Bank

Fed Ends Enforcement Action For FTX-Linked Farmington State Bank

(Bloomberg) -- The Federal Reserve said on Tuesday that it has terminated an enforcement action with Farmington State Bank, a lender that had ties to failed crypto firm FTX. The Fed said that its action, which has been in effect since last July, ensured the lender would protect depositors as the lender wound down. Farmington no longer functions as a bank, the central bank said. Separately, the Fed also announced the end of two enforcement action…