The Office of the Comptroller of the Currency (OCC) has issued new directives to Carver Bancorp (NASDAQ:CARV), one of the largest African American banks in the US, following concerns raised by Dream Chasers Capital Group. The OCC order, issued on May 16, 2025, requires Carver to implement strategic changes focused on improving earnings, risk management, and profitability. The bank must submit a three-year strategic plan by September 25th, 2025, addressing key areas including internet strategy, market niche identification, and executive compensation. This development follows Dream Chasers' successful December 2024 proxy contest, where they secured over 70% of retail voter support. Greg Lewis, CEO of Dream Chasers, welcomed the OCC action as validation of their concerns regarding the bank's prolonged poor performance and losses.
L'Ufficio del Controllore della Valuta (OCC) ha emesso nuove direttive per Carver Bancorp (NASDAQ:CARV), una delle più grandi banche afroamericane negli Stati Uniti, a seguito delle preoccupazioni sollevate da Dream Chasers Capital Group. L'ordine dell'OCC, datato 16 maggio 2025, richiede a Carver di attuare cambiamenti strategici mirati a migliorare i guadagni, la gestione del rischio e la redditività. La banca deve presentare un piano strategico triennale entro il 25 settembre 2025, affrontando aree chiave come la strategia internet, l'identificazione del mercato di nicchia e la retribuzione dei dirigenti. Questo sviluppo segue la vittoria di Dream Chasers nella contestazione per procura del dicembre 2024, dove hanno ottenuto oltre il 70% del sostegno degli azionisti al dettaglio. Greg Lewis, CEO di Dream Chasers, ha accolto con favore l'azione dell'OCC come una conferma delle loro preoccupazioni riguardo alla prolungata scarsa performance e alle perdite della banca.
La Oficina del Contralor de la Moneda (OCC) ha emitido nuevas directrices para Carver Bancorp (NASDAQ:CARV), uno de los bancos afroamericanos más grandes de Estados Unidos, tras las preocupaciones planteadas por Dream Chasers Capital Group. La orden de la OCC, emitida el 16 de mayo de 2025, exige que Carver implemente cambios estratégicos enfocados en mejorar las ganancias, la gestión de riesgos y la rentabilidad. El banco debe presentar un plan estratégico a tres años antes del 25 de septiembre de 2025, abordando áreas clave como la estrategia en internet, la identificación de nichos de mercado y la compensación ejecutiva. Este desarrollo sigue al exitoso concurso por poder de Dream Chasers en diciembre de 2024, donde aseguraron más del 70% del apoyo de los votantes minoristas. Greg Lewis, CEO de Dream Chasers, celebró la acción de la OCC como una validación de sus preocupaciones sobre el prolongado bajo rendimiento y las pérdidas del banco.
통화감독청(OCC)은 미국에서 가장 큰 아프리카계 미국인 은행 중 하나인 Carver Bancorp (NASDAQ:CARV)에 대해 Dream Chasers Capital Group이 제기한 우려 사항에 따라 새로운 지침을 발표했습니다. 2025년 5월 16일에 발행된 OCC 명령은 Carver가 수익성, 위험 관리 및 수익 개선에 중점을 둔 전략적 변화를 시행할 것을 요구합니다. 은행은 2025년 9월 25일까지 3년 전략 계획을 제출해야 하며, 인터넷 전략, 시장 틈새 식별 및 임원 보상 등 주요 분야를 다루어야 합니다. 이 조치는 2024년 12월 Dream Chasers가 주주 대리권 경쟁에서 소매 주주 지지율 70% 이상을 확보한 성공에 따른 것입니다. Dream Chasers의 CEO인 Greg Lewis는 OCC의 조치를 은행의 장기적인 저조한 실적과 손실에 대한 그들의 우려가 확인된 것으로 환영했습니다.
Le Bureau du Contrôleur de la Monnaie (OCC) a émis de nouvelles directives à Carver Bancorp (NASDAQ:CARV), l'une des plus grandes banques afro-américaines aux États-Unis, suite aux préoccupations soulevées par Dream Chasers Capital Group. L'ordre de l'OCC, daté du 16 mai 2025, exige que Carver mette en œuvre des changements stratégiques visant à améliorer les revenus, la gestion des risques et la rentabilité. La banque doit soumettre un plan stratégique triennal d'ici le 25 septembre 2025, abordant des domaines clés tels que la stratégie internet, l'identification des niches de marché et la rémunération des dirigeants. Ce développement fait suite à la victoire de Dream Chasers lors de la contestation par procuration de décembre 2024, où ils ont obtenu plus de 70 % du soutien des actionnaires de détail. Greg Lewis, PDG de Dream Chasers, a salué l'action de l'OCC comme une validation de leurs inquiétudes concernant la mauvaise performance prolongée et les pertes de la banque.
Das Office of the Comptroller of the Currency (OCC) hat neue Anweisungen an Carver Bancorp (NASDAQ:CARV) erlassen, eine der größten afroamerikanischen Banken in den USA, nachdem Bedenken von Dream Chasers Capital Group geäußert wurden. Der am 16. Mai 2025 erlassene OCC-Beschluss verlangt von Carver die Umsetzung strategischer Änderungen zur Verbesserung von Erträgen, Risikomanagement und Rentabilität. Die Bank muss bis zum 25. September 2025 einen dreijährigen Strategieplan vorlegen, der wichtige Bereiche wie Internetstrategie, Marktnischenidentifikation und Vergütung der Führungskräfte abdeckt. Diese Entwicklung folgt auf den erfolgreichen Proxy-Kampf von Dream Chasers im Dezember 2024, bei dem sie über 70 % der Stimmen der Einzelaktionäre erhielten. Greg Lewis, CEO von Dream Chasers, begrüßte die Maßnahme der OCC als Bestätigung ihrer Bedenken hinsichtlich der anhaltend schlechten Leistung und Verluste der Bank.
Positive
OCC validation supports shareholders' concerns and pushes for necessary changes
Mandatory implementation of strategic improvements in earnings, risk management, and growth
Required development of internet strategy and new product lines to generate revenue
Enhanced board oversight and compliance procedures mandated by OCC
Negative
Bank's historical poor performance and continued losses acknowledged by regulators
Regulatory intervention required to force necessary changes
Significant operational changes required under tight deadline (by September 2025)
Past board and management oversight issues highlighted by OCC action
Insights
OCC's formal agreement with Carver Bancorp mandates significant operational reforms after activist investor Dream Chasers' successful proxy campaign.
The OCC has issued a formal regulatory action against Carver Bancorp (NASDAQ:CARV), ordering the bank to implement comprehensive reforms to address persistent operational deficiencies. This regulatory intervention validates concerns raised by activist investor Dream Chasers, which recently won support from 70% of retail voters in a December 2024 proxy contest.
The OCC's directive mandates Carver develop a three-year strategic plan by September 25, 2025, focusing on several critical areas: improved risk management protocols, enhanced earnings performance metrics, strategic growth initiatives, capital optimization, new product development, and implementation of an effective digital strategy. The regulator also requires strengthened board oversight and compliance procedures with quarterly progress reports.
This formal agreement represents an elevated level of regulatory supervision, falling short of a consent order but signaling significant regulatory concerns about Carver's operations. The bank now faces strict deadlines and accountability measures that could fundamentally reshape its business model and governance structure.
What's particularly notable is how this regulatory action aligns with Dream Chasers' activist campaign, effectively providing external validation for their criticisms of the bank's leadership and performance. As one of the largest African American-owned banks in the U.S., Carver serves an important market niche, but has struggled with profitability issues that the OCC now formally requires addressing.
The timing suggests regulatory patience has worn thin, with the OCC stepping in after Dream Chasers' successful proxy campaign demonstrated widespread shareholder dissatisfaction. The required strategic overhaul could potentially unlock value if properly executed, but also indicates serious operational deficiencies that have persisted under current leadership.
-Fund declares Major victory for shareholders of the bank
-New OCC agreement validates Dream Chasers' push for earnings, shareholder value creation and board accountability
NEW YORK CITY, NY / ACCESS Newswire / May 20, 2025 / In a major development, the Office of the Comptroller of the Currency (the "OCC") on 5/16/ 25 (Friday ) ordered Carver Bancorp (NASDAQ:CARV) ("Carver" or "the bank") to embark on new strategic planning that will deliver earnings and profitability to the bank.
The OCC ordered the bank to take immediate steps to improve risk management, earnings performance, growth, capital, new product line development, develop an effective internet strategy to generate customers and revenues, identify markets niches and and observe executive compensation.
Additionally, the OCC required the Board to strengthen its oversight and compliance procedures, develop systems to monitor the bank's health and issue progress reports to the OCC after each quarter on the bank's execution of these new directives/plans
These changes mirror the concerns Dream Chasers has raised in recent years, culminating in the December, 2024 proxy contest where Dream Chasers and its nominees won the support of over 70% of the retail voters.
The OCC order requires Carver's Board to submit a three-year strategic plan to execute on the required changes by September 25th, 2025.
Greg Lewis, CEO of Dream Chasers said, "Shareholders should welcome the OCC action, but it should never have come to this. The Carver Board and management team have overseen losses and poor performance for far too long. This is vindication of everything we have pointed out in recent years and a net positive for shareholders if the Board makes substantive changes. As one of the largest African American banks in the country there is no limit to how high this bank could rise, which would deliver massive upside and shareholder value."
"We hope this new OCC action will bring about a new set of investor-focused actions at Carver. As the biggest shareholder in Carver, we will stay vigilant and make sure the Board and management execute on the opportunity in front of them. Now they have to put the interest of shareholders first."
The full OCC agreement with Carver can be see here: sec.gov/Archives/edgar/data/1016178/000094337425000211/ex10-1.htm.
What changes did the OCC order Carver Bancorp (CARV) to make in May 2025?
The OCC ordered Carver Bancorp to improve risk management, earnings performance, growth, capital, develop new product lines, implement an internet strategy, identify market niches, and enhance board oversight. A three-year strategic plan must be submitted by September 25th, 2025.
How did Dream Chasers perform in Carver Bancorp's December 2024 proxy contest?
Dream Chasers and its nominees won the support of over 70% of the retail voters in the December 2024 proxy contest.
What is the deadline for Carver Bancorp (CARV) to submit its strategic plan to the OCC?
Carver Bancorp must submit its three-year strategic plan to the OCC by September 25th, 2025.
What were the main issues identified by the OCC at Carver Bancorp?
The OCC identified issues with risk management, earnings performance, growth, capital management, product development, internet strategy, market positioning, executive compensation, and board oversight.
Who is Greg Lewis and what was his response to the OCC order for Carver Bancorp?
Greg Lewis is the CEO of Dream Chasers Capital Group. He welcomed the OCC action as validation of their concerns about Carver's poor performance, stating it should benefit shareholders if the Board makes substantive changes.
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