OCC enforcement actions reported

The OCC has announced enforcement actions recently taken against OCC-supervised institutions—

• A formal agreement with First Federal Savings Bank of Kentucky, Frankfort, Kentucky, for unsafe or unsound practices, including those related to strategic planning and budgeting, succession planning, liquidity risk management, and interest rate risk management
• A previously announced formal agreement with Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for deficiencies related to the bank’s financial crimes risk management practices and anti-money laundering internal controls in several areas
• An order of prohibition against Natasha A. Aikens, former lead associate at a Brooklyn, New York, branch of JPMorgan Chase Bank, N.A., Columbus, Ohio, for engaging in a scheme to steal bank funds and falsely reporting the receipt of counterfeit bills in the bank’s general ledger, resulting in losses to the bank of at least $201,000