Skip to content

Bank lenders fined for sharing customer info with new employer

Barrington, IL
06/23/2020
Fine Amount: 
$10,000
Penalty Type: 
Issued by: 

The OCC has issued consent orders to cease and desist and to pay $5,000 civil money penalties to Jeffrey Wettstein, former director of west coast sales, and Michael Shara, former branch manager, of Barrington Bank and Trust Company, N.A., Barrington, Illinois.

Wettstein and Shara were found to have sent records related to actual or prospective bank customers to another financial institution where they had or intended to accept a position, and where two of those customers obtained loans. The records included confidential financial information such as social security numbers and payroll and financial account statements, sent in some cases by insecure email to a personal account, without the knowledge or consent of the customer.

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