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Public Info posted an update 1 year, 4 months ago
The Office of the Comptroller of the Currency (OCC) announced enforcement actions for May 2025 on May 15, 2025. These actions include measures taken against both financial institutions and individuals affiliated with banks that the OCC supervises.
Key enforcement actions announced include:
* Cease and Desist Order against Eastern National Bank, Miami, Florida, for unsafe or unsound practices related to strategic and capital planning, earnings, and board and management supervision. This order supersedes an earlier cease-and-desist order from November 19, 2020.
* Cease and Desist Order against EH National Bank, Beverly Hills, California, for unsafe or unsound practices concerning management and board supervision, strategic and capital planning, liquidity risk, interest rate risk, and concentration risk. This order supersedes a formal agreement dated October 11, 2023.
* Order for $100,000 Civil Money Penalty and Personal Cease-and-Desist Order against David Julian, former Chief Auditor of Wells Fargo Bank, N.A., Sioux Falls, South Dakota. This action is in connection with the bank’s long-standing systemic sales practices misconduct.
* Order for $50,000 Civil Money Penalty and Personal Cease-and-Desist Order against Paul McLinko, former Executive Audit Director of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, also related to the bank’s sales practices misconduct.
* Order of Prohibition against Edward Langton, former Chief Executive Officer and Chairman of the Board of Grand Bank for Savings, Federal Savings Bank, Hattiesburg, Mississippi, for violating conflict of interest requirements, engaging in unsafe or unsound practices, and breaching his fiduciary duty.
The OCC emphasizes that enforcement actions against institution-affiliated parties (IAPs) are used to reinforce individual accountability for their conduct within banks. IAPs include bank directors, officers, employees, and controlling shareholders.
The OCC’s full list of enforcement actions is available on their website.Video courtesy of ABN-AMRO
Video courtesy of ABN-AMRO
