Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FDIC releases February enforcement orders
The FDIC has released a list of enforcement orders issued in February:
- An institution affiliated party of Sunrise Bank Dakota, Onida, South Dakota, was assesses a civil money penalty of $15,000 after the FDIC determined (and the party neither admits nor denies), that, in 2017, he allowed bank customers to continuously overdraw their accounts, resulting in unsecured loans in excess of the bank's legal lending limit and financial loss to the bank.
- An institution affiliated party of United Commercial Bank, San Francisco, California (now in receivership), was issued an order of prohibition and an order to pay a civil money penalty of $150,000, for having engaged or participated in violations, reckless unsafe or unsound banking practices, and breaches of fiduciary duty resulting in financial loss or other damage to the bank and prejudicing the interests of the bank's depositors.
- Additional orders of prohibition from further participation were issued to:
- a former employee of Louisa Community Bank, Louisa, Kentucky, for violations of law or regulation and unsafe or unsound banking practices, including embezzlement of $45,450 from the bank;
- a former customer service manager of OneUnited Bank, Boston, Massachusetts, for having misappropriates funds from certificate of deposit accounts of various elderly customers of the bank, resulting in a loss to the bank of $71,425.36;
- a former branch manager at PeoplesBank, A Codorus Valley Company, York, Pennsylvania, for having embezzled approximately $139,000 from the bank and its customers; and
- a former institution affiliated party of The Fahey Banking Company, Marion, Ohio, who, while also treasurer of a public library in Mt. Giliad, Ohio, deprived the library of funds totaling $19,720, using the funds for his personal benefit.