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#2113104 - 01/05/17 01:32 PM Consent Order Without Fine
banjo Offline
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Joined: Feb 2005
Posts: 299
I read a BSA consent order a local bank received recently. It included practically every BSA section. However, there was no monetary penalty. Is it possible they will not be fined, or does a fine normally follow later after the consent order?

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#2113208 - 01/05/17 08:03 PM Re: Consent Order Without Fine banjo
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
There might be a separate order in the works. But it's more likely that this is a first enforcement order and the regulator will keep a careful eye on the progress the bank makes (or doesn't) in the next year or so. If there isn't sufficient progress, you can be pretty sure the next order will include a civil money penalty as a further inducement to clean things up.
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