Skip to content

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.

Click Now!


FDIC August enforcement actions

The FDIC has released a list of 13 orders of administrative enforcement actions taken against banks and individuals in August 2020. The administrative enforcement actions in those orders consisted of one cease and desist order, four consent orders of prohibition, and eight Section 19 orders.

CBW Bank, Weir, Kansas, was issued a consent cease and desist order related to findings that the bank's BSA/AML program was deficient. In the order, the bank was directed to cease all activity pertaining to foreign financial institution customers, including funds transfers, remote deposit capture, U.S. dollar repatriation, MSB remittances, ACH transfers, etc., until the FDIC determines the bank has taken sufficient corrective action and can be permitted to resume some or all of those activities.

The prohibition orders were issued toβ€”

  • a former loan teller at Arrowhead Bank, Llano, Texas, for using fraudulent general ledger tickets to conceal unauthorized withdrawals from bank customers' accounts, using the funds for her personal benefit
  • the former president of PrimeSouth Bank (now CB&S Bank, Inc.), Tallassee, Alabama, for obtaining unauthorized advances from a loan to a bank customer and applying the proceeds to unrelated loans of other persons
  • the former CEO of Border State Bank (now Border Bank), Roseau, Minnesota, for arranging for bank customers to obtain loans from the bank and transfer the loan proceeds to himself in violation of Regulation O, and for issuing unauthorized letters of credit in furtherance of a personal investment
  • a former teller at BancorpSouth Bank, Tupelo, Mississippi, for embezzling funds from her teller drawer and the bank's vault for her personal use
Filed under: 

Training View All

Penalties View All

Search Top Stories