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Former director fined for conflict of interest violation

Walden, NY
04/25/2018
Fine Amount: 
$5,000
Penalty Type: 
Issued by: 

The OCC has assesses a $5,000 civil money penalty on Gerald N. Jacobowitz, former director of Hometown Bank of the Hudson Valley, Walden, NY. The OCC found, and Jacobowitz neithr admits nor denies, that, between at least 2013 and May 2014, and while a director on the bank’s board of directors and a member of the board’s Loan Workout Committee (“LWC”), he violated 12 C.F.R. § 163.200 (Conflicts of interest) with regard to certain Board and/or LWC meetings.

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