Skip to content

How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.

FDIC prohibition orders released

The FDIC has released a list of enforcement actions executed in May 2019. Included were five Removal/Prohibition Orders issued to:

  • a former branch sales manager of Tri-State Bank of Memphis, Memphis, Tennessee, who was found to have embezzled funds from customers' dormant accounts
  • a former branch manager of Great Western Bank, Sioux Falls, South Dakota, who was found to have made multiple unauthorized withdrawals from customer accounts, made off-book loans using customer funds, diverted bank and customer funds to her own use and benefit, and falsified bank records and documents
  • a former vice president and branch manager of Apple Bank fo Savings, Manhasset, New York, who was found to have falsified bank records to establish lines of credit for uncreditworthy borrowers, secure those lines of credit with deposits of other Apple Bank customers without authorization; and to have diverted funds from one bank customer's account to another unrelated bank customer
  • a former employee of American Exchange Bank, Henryetta, Oklahoma, found to have embezzled $177,375 from the bank for her own use
  • a former employee of Ocean Bank, Miami, Florida, found to have made unauthorized withdrawals totaling $10,390 from the accounts of two bank customers
Filed under: 

Training View All

Penalties View All

Search Top Stories