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OCC enforcement actions

The OCC has released enforcement orders issued by the agency in April.

  • Mission National Bank, San Francisco, California, consented to the issuance of a Cease and Desist Order following findings by the OCC that the bank engaged in unsafe or unsound practices and violations of law, rule, or regulation relating to the bank's failure to establish and maintain an acceptable Bank Secrecy Act/Anti-Money Laundering compliance program.
  • A former vice president for human resources and chief operations officer for First National Bank, Bagley, Minnesota, consented to the issuance of an order of prohibition and for the payment of a civil money penalty of $15,000, following an OCC finding that she misappropriated $72,700 in bank funds by causing the bank to pay her annual bonuses greater than those approved by the bank due to her unilateral control of the bank's payroll process.
  • a former teller at PNC Bank, N.A., Wilmington, Delaware, was issued a Prohibition Order after failing to appear for a hearing on charges that he had misappropriated bank funds from his teller drawer and an ATM under his sole control, resulting in a bank loss of nearly $12,000.
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