Skip to content

How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.


OCC releases enforcement actions

The OCC has released a list of new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with such institutions. The actions listed are dated from late December 2019 to early February 2020.

In addition to actions separately reported previously, the OCC listed removal/prohibition orders against a former teller at CIT Bank, N.A., Pasadena, California (misappropriation of cash from her teller drawer); a former head teller supervisor at Midland Federal Savings and Loan Association, Bridgeview, Illinois (misappropriation of vault cash and making false entries); a former teller at U.S. Bank, N.A., Cincinnati, Ohio (misappropriation of cash from her teller drawer and making false cash total entries); and a former teller at JPMorgan Chase Bank, N.A., Columbus, Ohio (misappropriation of cash from ATMs for which she was the custodian).

Also listed were three notices of charges that may result in orders of prohibition, orders for reimbursement, orders for civil money penalties and/or other actions, one of which notices was directed to five former officials of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, in connection with charges that the former officials participated in or were responsible for "sales practices misconduct" at Wells Fargo Bank. The notice states the Comptroller's intention to assess civil money penalties of between $500,000 and $25,000,000 against the five former officials and to issue orders of prohibition to two of them.

Filed under: 

Training View All

Penalties View All

Search Top Stories