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News Release 2023-115
October 19, 2023
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WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against individuals currently and formerly affiliated with national banks and federal savings associations (collectively, banks).
To provide additional information regarding the OCC’s actions taken against individuals, the orders now include a reference if the misconduct specifically involves elderly customers. Such financial abuse of older adults by an institution-affiliated party (IAP) may include the illegal or improper use of an older adult’s funds, property, or assets.
The OCC uses enforcement actions against IAPs to deter, encourage correction of, or prevent violations, unsafe or unsound practices, or breaches of fiduciary duty. Enforcement actions against IAPs reinforce the accountability of individuals for their conduct regarding the affairs of a bank. The term "institution-affiliated party," or IAP, is defined in 12 USC 1813(u) and includes bank directors, officers, employees, and controlling shareholders.
The enforcement actions are:
Orders of Prohibition prohibit an IAP from any participation, in any manner, in the conduct of the affairs of any insured depository institution.
All OCC public enforcement actions taken since August 1989 are available for download by viewing the searchable enforcement actions database at https://apps.occ.gov/EASearch.
Stephanie Collins (202) 649-6870