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.
2025-09-12T19:40:00Z 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.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
Site powered by Webvision Cloud