Saddle Valley River Bank Hit with C&D

Posted By: Retread

Saddle Valley River Bank Hit with C&D - 11/29/11 12:22 PM

FYI

http://www.nj.com/business/index.ssf/2011/11/feds_order_bergen_county_bank.html
Posted By: Kathleen O. Blanchard

Re: Saddle Valley River Bank Hit with C&D - 11/29/11 12:29 PM

Very interesting. Interesting that such a small bank had foreign correspondent issues. Also interesting about being ordered to cease providing RDC to MSBs until proper systems and processes are in place.
Posted By: ACBbank

Re: Saddle Valley River Bank Hit with C&D - 11/29/11 02:05 PM

Two other small banks got nailed with C & D's as well. The OCC is not messing around.
Posted By: devsfan

Re: Saddle Valley River Bank Hit with C&D - 11/29/11 02:53 PM

I am somewhat familiar with this bank and know that they had at least 1 account of a Mexican casa de cambio.
Posted By: DeeQ

Re: Saddle Valley River Bank Hit with C&D - 11/29/11 03:03 PM

Three NJ banks got nailed recently.