Banker gets boot and $5K CMP for RESPA violation

The FDIC has issued an order prohibiting a former institutional-affiliated party of Proficio Bank, Cottonwood Heights, Utah, from further participating in the affairs of any insured depository institution and imposing a $5,000 civil money penalty on him.

The Order of Prohibition from Further Participation and to Pay a Civil Money Penalty was imposed on Brett C. Carter, a former institution-affiliated party of a Utah bank who "has engaged or participated in violations of the Real Estate Settlement Procedures Act, 12 U.S.C. § 2607, and its implementing regulation, Regulation X, 12 C.F.R. Part 1024, and/or has engaged or participated in, unsafe or unsound banking practices, and/or breaches of fiduciary duty as an institution-affiliated party of [the bank] by agreeing to pay fees for the referral of mortgage loan business."