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Prohibition order and $20K fine for Texas banker

Mineral Wells, TX
11/29/2018
Fine Amount: 
$20,000
Penalty Type: 
Issued by: 

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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