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Louisiana banker pays $15K for Reg O violations

Deridder, LA
08/05/2019
Fine Amount: 
$15,000
Penalty Type: 
Issued by: 

The OCC has issued a Consent Order to Rafael Webb Stark, now or formerly EVP and director of Beauregard Federal Savings Bank, Deridder, Louisiana, ordering the payment of a $15,000 civil money penalty for violations of Regulation O.

The OCC found, and Stark neither admits nor denies that Stark—

  • obtained at least six loans from the Bank without prior approval of the bank’s board of directors, in violation of 12 C.F.R. § 215.4(b), and obtained three of these loans despite exceeding his aggregate general purpose amount, in violation of 12 C.F.R. § 215.5(c).
  • obtained an unsecured loan that involved more than the normal risk of repayment and presented other unfavorable features, in violation of 12 C.F.R. § 215.4(a).

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