Skip to content

Former Arkansas SVP and lender fined by OCC

Pine Bluff, AR
07/23/2019
Fine Amount: 
$9,500
Penalty Type: 
Issued by: 

The OCC has issued a Consent Order in the matter of Chris Elkins, former SVP and commercial lender at Simmons First National Bank, Pine Bluff, Arkansas, directing that Elkiins pay a $9,500 civil money penalty for his activities at the bank.

The OCC found that Elkins —

  • signed loan modifications for two loans to a relative that he had personally promised to repay and was repaying, and that the proceeds of the two loans had been used to purchase real estate that was gifted to Elkins in 2012.
  • served as loan officer for a borrower who wanted a loan to purchase a primary residence, but Elkins structured this loan as a commercial loan even though it had no commercial purpose. The loan did not go through automated underwriting as required by the Bank’s credit policy and avoided an origination fee.
  • served as loan officer for a borrower who wanted a loan collateralized by a recreational vehicle,.but Elkins structured this loan as a commercial loan even though it had no commercial purpose, and the borrower would not have qualified for the loan if it had been properly structured as a consumer loan.
  • accepted a $35,000 personal loan from a borrower for whom he served as loan officer and who had an active line of credit at the bank, and Elkins failed to disclose to the Bank that he was personally indebted to this borrower.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Penalties