Ohio bank CEO penalized by OCC

The OCC has issued a Stipulation and Consent Order against the CEO of an Ohio national bank, ordering him to pay a $5,000 civil money penalty. The OCC found that

• While a member of the Board of Directors of the Bank, Respondent failed to take appropriate actions in response to previous OCC criticisms regarding violations of law, regulation, and the Formal Agreement entered into between the Bank and the OCC on June 12, 2013; and
• By reason of the foregoing conduct, Respondent’s actions and/or inactions caused, allowed, brought about, participated in, counseled, or aided or abetted the Bank’s violations of law, regulation, and the Formal Agreement.

• Order for Enforcement Action 2015-104: http://www.occ.gov/static/enforcement-actions/ea2015-104.pdf