FDIC releases enforcement actions

The FDIC has released a list of enforcement actions taken in June 2021.

• Reliabank Dakota (Estelline, South Dakota) and Limebank (Schell City, Missouri) were assessed $30,000 and $1,000, respectively, for violations of the Flood Disaster Protection Act
• Natalie Arnemann, former managing director and senior vice president of Renasant Bank (Tupelo, Mississippi), was assessed a civil money penalty of $5,000 and issued an order of prohibition, after the FDIC found that she repeatedly wrote checks on accounts with insufficient funds that she controlled at the bank, approved without authorization many of these overdrafts, and wrote additional NSF checks to cover the prior overdrafts she had approved.
• Briget Boyd, former operations clerk at Premier Bank of the South (Cullman, Alabama), was assessed a civil money penalty of $35,000 and issued an order of prohibition, after the FDIC found that she knowingly and willfully made 151 unauthorized journal entries that resulted in funds being transferred from the bank's general ledger to accounts owned or controlled by her or bank checks being issued that were later negotiated by her, resulting in losses to the bank of at least $33,020.28.
• Alejandro Hector Hernandez, former employee of Luther Burbank Savings (Santa Rosa, California), was issued a prohibition order after the FDIC determined he stole more than 300 new laptops from the bank.
• Hyun Jung Kim, former universal banker at Bank of Hope (Los Angeles, California), was issued a prohibition order, after the FDIC determined that the respondent misappropriated funds provided by a customer to open a certificate of deposit.
• Kendra Richardson, former branch manager of Guaranty Bank (Springfield, Missouri), received an order of prohibition after the FDIC determined that she has taken approximately $158,000 from the bank vault and converted the funds to her personal use.
• Karen Farrell-Tigler, former multi-service banker/teller at Hancock Whitney Bank (Gulfport, Mississippi), received a prohibition order after the FDIC determined she had misappropriated more than $200,000 from a bank customer's deposit account.