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.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
Site powered by Webvision Cloud