Choice Financial Group
A North Dakota bank under a joint FDIC and state BSA order centered on customers onboarded through third parties.
Choice Financial Group is a state-chartered bank in Fargo, North Dakota, supervised by the FDIC. Its joint FDIC and North Dakota consent order FDIC-23-0086b, effective December 18, 2023, requires monthly board review of the bank’s relationships with third parties that provide financial services, an anti-money-laundering program covering activities provided through third parties, and customer identification and due diligence applied to customers onboarded through a third party. It also requires a lookback of customers onboarded through third-party relationships. The FDIC had published no termination as of September 26, 2026.
- Country
- United States
- Primary federal regulator
- FDIC
- State regulator
- North Dakota Department of Financial Institutions
- Charter type
- State-chartered commercial bank, not a Federal Reserve member
- FDIC certificate number
- 9423
- Publicly announced fintech partners
- Mercury (business banking provided through Choice Financial Group and Column N.A., per Mercury's disclosures)
- Enforcement actions (regulator records)
Document Regulator Issued Status FDIC-23-0086b consent order (BSA/AML, third-party onboarding) FDIC and North Dakota DFI Dec 18, 2023 In force (no termination published) - Date checked
Questions
Is Choice Financial Group under a consent order?
What does the Choice Financial Group order require?
Which fintechs bank with Choice Financial Group?
See also
- Sponsor-bank enforcement tracker
- Evolve Bank & Trust, another bank named in Mercury’s disclosures
- All sponsor banks
Sources
- FDIC consent order FDIC-23-0086b
- FDIC release, January 26, 2024
- Mercury business banking disclosures
- Checked September 26, 2026.
Source: FDIC BankFind, the FDIC, OCC and Federal Reserve enforcement records and state regulators’ orders, plus partner announcements by the banks or fintechs, as linked in each profile. How we build and refresh profiles: methodology.