By Kyle Brasseur2022-09-28T17:48:00
Michigan-based Sterling Bank and Trust agreed to pay a fine of $6 million assessed by the Office of the Comptroller of the Currency (OCC) for deficiencies in its former residential loan product.
The OCC’s penalty, announced Tuesday, coincided with the termination of a June 2019 agreement between the regulator and Sterling Bank requiring the latter to remediate its unsafe and unsound practices, including deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) internal controls. The OCC determined the bank implemented all corrective actions required by the agreement.
Sterling Bank will pay its penalty to the U.S. Treasury Department.
2024-02-15T21:00:00Z By Jeff Dale
The Office of the Comptroller of the Currency issued a cease-and-desist order against the former general counsel at Sterling Bank and Trust for not ensuring the institution’s Bank Secrecy Act compliance and failing to timely file suspicious activity reports.
2023-03-16T20:21:00Z By Adrianne Appel
Sterling Bancorp pleaded guilty to falsifying securities statements prior to and following a 2017 initial public offering and will pay approximately $27.2 million in restitution, the Department of Justice announced.
2022-11-30T20:55:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency’s new procedures for assessing civil penalties establishes fines as high as $400 million for misconduct—more than double the highest total in previous guidance—based on the size of the institution and severity of the violations.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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