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ABA: The American Bankers Association
Compliance News

ABA Updates Enforcement Action Database

ABA recently updated the enforcement database to include eight enforcement actions. The FDIC issued four enforcement actions. The FDIC assessed a total of $200,000 in civil money penalties against a bank for UDAP and TCPA violations. The FDIC also issued a cease and desist order against two banks for BSA and CMS violations. The Federal Reserve entered into a consent order with a bank for BSA/AML violations and deficiencies with OFAC regulations. The OCC also entered into a consent order with a bank relating to deficiencies with its BSA compliance program. Lastly, Treasury issued two enforcement actions relating to OFAC violations. For the OFAC violations, one bank entered into a settlement for $1.3 billion and the other bank was assessed a $1.1 billion civil money penalty.