California banker fined and banned

The OCC has issued an order prohibiting Kirk N. Dowdell, former CEO of Golden Pacific Bank, N.A., Sacramento, California, from participating in any way in the conduct of the affairs of any financial institution, imposing a $25,000 civil money penalty, and requiring restitution of $29,973 to his former bank.

The Comptroller found that the bank issued Dowdell a credit card for charging business expenses, that Dowdell used the card for personal expenses, including family vacations, meals and other personal expenses, totaling at least $29,973, without ever reimbursing the bank for those expenses, even after being told by the bank president that he needed to pay the money back.