Louisiana bank president fined for Reg O violations
The OCC has issued a consent order for a $5,000 civil money penalty to be paid by Carroll Green, President and Director, Beauregard Federal Savings Bank.
The Comptroller found, and Green neither admits nor denies, that Green—
- regularly incurred and maintained overdrafts in his business account and failed to take action to properly address such overdraft usage, and
- failed to provide proper oversight of the bank and to take necessary actions to ensure the bank complied with insider lending laws and regulations. As a result, Green caused, brought about, participated in, counseled, or aided or abetted the bank’s violations of 12 C.F.R. Part 215 (Regulation O).
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