News Release 2022-25 | March 17, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $60 million civil money penalty against USAA, Federal Savings Bank, for violations of the OCC’s Bank Secrecy Act regulations. The OCC also issued a Cease and Desist Order against the bank based on its […]
Tag Archives: Enforcement Actions
OCC to Hold Virtual Hearing on Charges Against Saul Ortega and David Rogers; Agency Seeks Prohibition Orders and Civil Money Penalties
News Release 2022-7 | January 25, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public virtual hearing before an Administrative Law Judge beginning Monday, January 31, 2022. The OCC will litigate enforcement actions against two individuals formerly associated with First National Bank, Edinburg, Texas (closed): Saul Ortega, former […]
OCC Issues Consent Order Against Cenlar FSB
News Release 2021-111 | October 26, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a Consent Order against Cenlar FSB of Ewing, N.J. The OCC took this action based on the bank’s failure to establish effective controls and risk management practices related to its mortgage servicing and subservicing activities. […]
OCC Issues Cease and Desist Order Against MUFG Union Bank for Deficiencies Relating to Technology and Operational Risk Governance
News Release 2021-100 | September 20, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A. The OCC took this action based on the bank’s unsafe or unsound practices regarding technology and operational risk management and the bank’s noncompliance with the […]
OCC to Hold Hearing on Charges Against Former Wells Fargo Bank, N.A. Executives; Agency Seeks Prohibition Order, Orders to Cease and Desist, and Civil Money Penalties
News Release 2021-96 | September 10, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Monday, September 13, 2021, in Sioux Falls, S.D. The OCC will litigate enforcement actions against Claudia Russ Anderson, former Community Bank Group Risk Officer, David Julian, […]
OCC Assesses $250 Million Civil Money Penalty, Issues Cease and Desist Order Against Wells Fargo
News Release 2021-95 | September 9, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against Wells Fargo Bank, N.A, of Sioux Falls, S.D., based on the bank’s unsafe or unsound practices related to deficiencies in its home lending loss mitigation program and violations […]
OCC to Hold Hearing on Charges Against Biagio Maffettone; Agency Seeks Prohibition Order and Civil Money Penalty
News Release 2021-84 | August 27, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Tuesday, August 31, 2021, where the OCC will litigate enforcement actions against Biagio Maffettone, former Vice President and Home Mortgage Area Manager at Citizens Bank, N.A., […]
OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A.
News Release 2020-159 | November 24, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against JPMorgan Chase Bank, N.A. The OCC took this action based on the bank’s failure to maintain adequate internal controls and internal audit over its fiduciary business. The OCC […]
OCC Assesses $80 Million Civil Money Penalty Against Capital One
News Release 2020-101 | August 6, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed an $80 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. The OCC took these actions based on the bank’s failure to establish effective risk assessment processes prior to migrating […]
OCC Enforcement Actions
News Release 2020-37 | March 19, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. All Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders […]