Prohibition order and $20K fine for Texas banker
Mineral Wells, TX
The OCC has issued a consent order of prohibition and for a $20,000 civil money penalty against Dacey R. Malone, former EVP of Titan Bank, N.A., of Mineral Wells, Texas.
The Comptroller found, and Malone neither admits nor denies, that she—
- was an EVP of the bank and served as its cashier and controller.
- bypassed the bank's payroll system to pay herself annual bonuses, causing her W-2 earnings statements to be understated by $108,000
- waived $6,375 in fees related to 255 overdrafts in her own and a family member's accounts, and
- transferred at least $21,300 from the bank's payroll and general ledger accounts to a family member's accounts without a legitimate business purpose.
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