Federal Reserve Board announces termination of enforcement action with Jiko Group, Inc.

The Federal Reserve Board terminated a 2024 enforcement action against San Francisco-based Jiko Group, Inc., the regulator announced Thursday. The cease-and-desist order was lifted effective June 23, 2026. [1] The original order, dated July 16, 2024, was a formal cease-and-desist directive issued by the Board. [1] The Federal Reserve’s brief statement did not detail the specific conduct that prompted the 2024 action or the conditions Jiko Group met to secure its termination. The company is headquartered in San Francisco, California. [1] Jiko Group operates at the intersection of banking and technology, a sector that saw heightened regulatory scrutiny during the early 2020s. The firm’s business model has drawn attention from former top financial regulators. Brian P. Brooks, who served as Acting Comptroller of the Currency from May 2020 to January 2021, later joined the company. [2] Brooks was nominated twice by President Donald Trump for a full five-year term leading the Office of the Comptroller of the Currency, once during the 116th Congress and once during the 117th Congress. [2] The termination of the order removes a formal compliance burden from the firm. The Federal Reserve maintains a public database of enforcement actions, where the original 2024 order and its 2026 termination are recorded. [1] The regulator did not indicate whether the termination was routine or tied to a specific remediation milestone. The announcement was distributed through the Board’s standard press release channel at 11:00 a.m. Eastern time on June 25, 2026. [1]