There are two types of banks: state charted and federal chartered. That being said: the federal reserve can pull some bullshit.

Best man in my wedding was left large shares in two banks by his grand father. One was a Billion Dollar federally chartered bank, the other smaller bank was about $500M and a state chartered bank.

Back in 2008 both banks get called to Kansas City (their Fed office) and were explicitly told they were going to take TARP funds. Billion Dollar bank did so as they were lending to anyone with a pulse to keep business from places like BoA. The smaller bank didn't and passed on the funds. Their internal estimates was that defaults for their loans would double from <1% to about 2% and 3% in a worst case scenario as they didn't loan money to just anyone. And that even in a worst case scenario they'd take hits to quarterly profits for a couple quarters and then be fine. They "didn't make bad loans".

Soon after refusing TARP money every federal agency with authority launched an investigation into the bank. They held press conferences as the Federal Attorney for that part of the country stated it was on the grounds of "possible civil rights violations" (AKA no lending to black people). It was all over the local news. The local newspaper and news stations starting going to local businesses that banked with them and asking if they were racists and those businesses soon pulled accounts. About a year passed and all the investigations quietly closed with no wrong doing found, but was that ever reported by the press? Maybe a paragraph on page 15 of the local newspaper and a 10 second blurb on the 5PM news no one caught.

They ended up having to buy another bank in the state and took their name to undo the damage. But they lost $150M in business by that time and it's taken them a decade to recover.

Meanwhile the Billion Dollar bank ended up getting "bailed out" and the family lost the bank to a bigger bank over TARP.