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Info theft earns former lender CMP and C&D

Barrington, IL
06/02/2017
Fine Amount: 
$8,000
Penalty Type: 
Issued by: 

The OCC hit Timothy Perry, former senior mortgage loan originator at Barrington Bank and Trust (Barrington, Illinois) with a Cease and Desist order and an $8,000 civil money penalty. The OCC found that Perry, in June and July 2014, transferred bank customer information to another mortgage lender with whom he was engaged in negotiations for future employment. without permission of Barrington and all via unencrypted email. The OCC found Perry to have violated Regulation P, engaged in unsafe or unsound banking practices, and breached his fiduciary duty to Barrington.

Under the C&D, Perry must share a copy of the OCC's order with any prospective employer that is an insured depository institution. and comply wwith all laws, rules and regulations and otherwise refrain from any of the behavior that triggered the Order.

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