FDIC releases November enforcement actions

The FDIC has issued a list of 12 enforcement orders issued in November 2018. Included were two Orders of Prohibition from Further Participation and one Notice of Intention to Prohibit from Further Participation.

• A senior trust officer at First International Bank & Trust, Watford City, North Dakota, was issued an Order of Prohibition from Further Participation after the FDIC determined that he billed his trust clients and paid himself for services that they did not authorize him to perform, and solicited and obtained an unsecured loan from a trust beneficiary to any uncreditworthy LLC he controlled, without disclosing the risks associated with the loan.
• The FDIC issued a similar order to a former teller at South State Bank (formerly known as SCBT), Columbia, South Carolina, after determining that she processed three cash withdrawals totaling $8,059, from the account of a deceased bank customer.
• The Notice of Intention to Prohibit was issued to a former teller supervisor at Branch Banking and Trust Company, Winston-Salem, North Carolina, alleging that she embezzled approximately $345,925 from elderly customers of the bank. The former teller pleaded guilty to a count of bank fraud in federal court in December 2017, and was sentenced to 21 months of incarceration and five years supervised release, and ordered to pay restitution to the bank of $345,925. She had 20 days from the date the November 19 notice was served on her to file an answer.