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OCC releases enforcement actions

The OCC has released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

  • A former Managing Director and Chief Administrative Officer of Oversight and Controls at JPMorgan Chase Bank, N.A., was ordered to pay a $35,000 civil money penalty for retaining non-public OCC information on her departure from that bank and illegally sharing that information with employees in her subsequent employment with another bank.
  • A former Executive Director of the Global Regulatory Relations Group of MS Services Group, Inc., and Morgan Stanley & Co. LLC, and an institution-affiliated part of Morgan Stanley Private Bank, N.A. and Morgan Stanley Bank, N.A., was ordered to pay a $7,500 civil money penalty for retaining, on her departure from Morgan Stanley in 2017, confidential Morgan Stanley documents, at least 18 of which contained non-public OCC information regarding one or both of the banks, and after being employed by another financial institution, using the documents containing non-public OCC information, leaving them unsecured in her office, thereby disclosing them.
  • A former teller at Wells Fargo Bank, N.A. was issued a consent prohibition order based on the Comptroller's finding that she processed nine unauthorized over-the-counter cash withdrawals totaling $22,000 from the checking account of a bank customer and disbursed the cash to an individual she knew was not an authorized user of the account, receiving $500 in return for her actions.
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