Enforcement Action
It doesn't matter how big or small, criminal actions and self dealing cannot be tolerated within a financial institution. In January, the FRB announced an enforcement action against Scott Smolinski, an officer of James Monroe Bank in Arlington, Virginia. Smolinski is required to pay restitution to the bank of $9,700. He may never work in banking again - unless the FRB gives him permission.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 8, No. 16, 1/04
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