OCC announces enforcement actions

The OCC has issued a news release announcing new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

• A savings and loan association in Pascagoula, Mississippi, was ordered to pay a civil money penalty (CMP) of $35,000 to the National Flood Insurance Program for a pattern or practice of violations of the Flood Act and its implementing regulations relating to the requirement to purchase flood insurance when available and to the forced placement of flood insurance.
• Three former officials of a failed Texas bank were ordered to pay CMPs totaling $203,000; two of those officials were issued prohibition orders.
• The former vice president and head bookkeeper of a Lebanon, Kentucky, bank was assessed a $5,000 CMP and issued an order of prohibition for concealing a shortfall in the bank's cashier's check account and for making unauthorized transfers from customer accounts to the cashier's check account in further efforts to conceal the shortfall.
• The former head teller of Minnesota bank was issued an order of prohibition, having been found to have misappropriated approximately $81,501 from customers' accounts at the bank and to have made false entries into bank records (she made full restitution, plus interest).
• The former regional president of a Meridian, Mississippi, bank was issued a prohibition order for obtaining a loan by forging the name of a bank customer, resulting in the charge-off of $72,000 (some of which has been repaid).