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FDIC enforcement actions released

The FDIC has released a list of orders of 13 administrative enforcement actions taken against banks and individuals in December 2023, including 12 orders and one Decision and Order. There were four orders of termination of deposit insurance; three orders terminating consent orders; two consent orders; one order terminating supervisory prompt corrective action directive; one order of prohibition from further participation; one order to pay a civil money penalty (CMP); and one Decision and Order to Prohibit from Further Participation and Assessment of Civil Money Penalty.

Bank of Morton, Morton, Mississippi, received an order to pay a civil money penalty of $600,000 for Bank Secrecy Act violations and failure to comply with a June 30, 2020, consent order.

A decision and order for assessment of a $175,000 civil money penalty and for removal and prohibition was issued to Diana Yeats, formerly the chief financial officer of The Bank of Oswego, Lake Oswego, Oregon.

A removal/prohibition order was issued to Rickey S. Carter, formerly a director of Bank of Alapaha, Alapaha, Georgia, following a determination that she obtained extensions of credit totaling about $1.6 million for the benefit of his personal business interests by submitting fraudulent financial information to the bank and to Ameris Bank, Atlanta, Georgia.

Consent orders were issued to Choice Financial Group, Fargo, North Dakota, and to First & Peoples Bank and Trust Company, Russell, Kentucky

Update: The orders issued to Choice Financial Group and to First & Peoples Bank and Trust Company have been correctly labeled as consent orders.

FDIC enforcement actions released

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