By
Aaron Nicodemus2023-04-10T18:54:00
The Office of the Comptroller of the Currency (OCC) dismissed an enforcement action and withdrew a fine against the former chief compliance officer for the now-defunct U.S. branch of Rabobank N.A.
Acting Comptroller of the Currency Michael Hsu wrote in a final decision Wednesday the agency “reluctantly” decided to drop its case against Laura Akahoshi, Rabobank N.A.’s former CCO and a former OCC bank examiner. The agency alleged Akahoshi participated in an effort in 2013 to withhold information from an OCC examiner regarding a material audit of Rabobank’s Bank Secrecy Act/anti-money laundering (BSA/AML) program.
In its decision, the OCC overturned an administrative law judge’s decision finding fault with Akahoshi’s actions and a $30,000 fine because the judge “did not fully address documents and testimony favoring” Akahoshi.
2023-05-26T14:42:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency could require large banks to take substantial actions to address persistent weaknesses, including restricting their growth or forcing them to divest from risky ventures.
2022-12-08T19:38:00Z By Adrianne Appel
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
2022-08-19T15:58:00Z By Kyle Brasseur
John Ryan, the former CEO of Rabobank, N.A., was fined $20,000 by the Office of the Comptroller of the Currency for his alleged role in obstructing a Bank Secrecy Act program examination that would lead to significant fines for the bank.
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The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
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