Former Louisiana Banker banned and fined $150,000

The Office of the Comptroller of the Currency, on December 17, 2021, issued a Consent Order of Prohibition and for the payment of a civil money penalty of $150,000 to Carroll Green, then the CFO and chairman of the board, and formerly the CEO and president of Beauregard FSB, DeRitter, Louisiana, on the basis of his activities while serving in those capacities at the bank.

The OCC found, and Green neither admits nor denies that:

• In October 2016, while serving as CEO, COB and President, Green obtained a $75,000 loan from the bank for his own benefit using a director of the bank as a borrower in name only. In so doing, Green caused the bank to approve the loan using inaccurate loan documents and did not disclose that he was the intended beneficiary of such nominee loan. As a result, Green violated applicable laws and caused the bank to violate Regulation O, 12 C.F.R. § 215.4(e)(1).
• In or about 2019, Green concealed his participation in financial transactions with a bank customer that resulted in his acquisition of a residential property using a nominee loan obtained in the name of such bank customer. In doing so, Green caused the bank to approve the loan using inaccurate loan documents and did not disclose that he was the intended beneficiary of such nominee loan. As a result, Green violated applicable laws and caused the bank to violate Regulation O, 12 C.F.R. § 215.4(a)(1).
• On at least ten occasions, between June 2016 and October 2018, Green knowingly originated or caused the bank to originate unsecured or partially secured consumer loans to borrowers of the bank to provide the borrowers funds to cover the down payment and closing costs related to real estate loans. In so doing, Green provided inaccurate information on forms the bank used in connection with these loans and caused the bank to approve such real estate loans using inaccurate loan documents. As a result, Green engaged in unsafe or unsound lending practices, violated applicable laws, and caused the bank to suffer risk of loss.