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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.

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FDIC releases January enforcement actions

On Friday, the FDIC released a list of its enforcement actions taken in the month of January 2021. Among other actions on the list, there were two civil money penalties and two removal/prohibition orders.

  • Mountain Valley Bank, Dunlap, Tennessee, received an order to pay a $4,000 civil money penalty for violations of flood insurance requirements.
  • A former loan relationship manager with Blue Hills Bank, Boston, Massachusetts (now merged with Rockland Trust Company, Rockland, Massachusetts) received a removal/prohibition order and an assessment of a $50,000 civil money penalty for unsafe or unsound banking acts and practices and breaching his fiduciary duty to the bank. He was also charged with and plead guilty to violating 18 U.S.C. § 1005 (participation in loan with intent to defraud a financial institution).
  • A former loan officer with First Southern State Bank, Stevenson, Alabama, was issued a removal/prohibition order for fraudulently originating 17 loans to 8 of his loan customers under false pretenses, and creating fictitious collateral for the loans, causing the bank to suffer financial loss, while he received financial gain.
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