OCC lists February enforcement actions

The OCC has released enforcement actions taken against OCC-supervised financial institutions and individuals now or formerly affiliated with such institutions. The OCC also announced updates to its enforcement action search tool.
 
Formal Agreements with:

• Dearborn FSB, Dearborn, Michigan, for unsafe or unsound practices, including those related to compliance management, fair lending risk management, insider activities, and compensation practices; and violations related to recordkeeping
• Patriot Bank, N.A., Stamford, Connecticut, for violations and unsafe or unsound practices, including those related to strategic planning, capital planning, Bank Secrecy Act/Anti-Money Laundering risk management, payment activities oversight, credit administration, and concentration risk management

Orders of Prohibition against:

• Max M. Bender, former Operations Processor at a Cincinnati, Ohio, location of U.S. Bank, N.A., Cincinnati, Ohio, for misappropriating funds from commercial customer deposits, resulting in a loss of at least $23,000 to the bank
• Justin Cooper, former Bank Teller at a Ramsey, New Jersey, branch of TD Bank, N.A., Wilmington, Delaware, for accessing customer records without authorization and providing customer information to a third party in exchange for money
• Larry DeWitt, former Chief Credit Officer and Lending Officer at BancCentral, N.A., Alva, Oklahoma, for, among other things, failing to secure cash collateral required for certain new market tax credit loans, which caused the bank to violate its legal lending limit, and failing to inform the bank of a customer’s impending withdrawal of millions of dollars on deposit with the bank, which he encouraged, facilitated, and understood could severely impact the bank’s liquidity
• Derek Heaton, former Chief Lending Officer at BancCentral, N.A., Alva, Oklahoma, for failing to secure cash collateral required for certain new market tax credit loans, which caused the bank to violate its legal lending limit
• Jackeline Graves, former Retail Banker at a Port Arthur, Texas, branch of Woodforest National Bank, The Woodlands, Texas, for gaining unauthorized access to bank customers’ personal information and forging their names onto checks to steal at least $14,000
• Mark Tillman, former Loan Officer at Citizens Bank, N.A., Providence, Rhode Island, for, among other things, making false statements and statements of omission to influence the bank’s mortgage lending decisions; failing to review, identify, and escalate red flags in mortgage loan applications or supporting information; and failing to fully disclose the involvement of a mortgage broker and the broker’s fees. An order to Cease and Desist was included