March list of enforcement actions released by OCC; includes $10,000 CMP

A set of enforcement actions against national banks and foreign branches, a savings association and formerly institution-affiliated individuals was released Friday by the Office of the Comptroller of the Currency (OCC).

The first three actions listed, all under a single cease-and-desist consent order, affect three federal branches of a bank in Tokyo, Japan, that agreed to address extensive Bank Secrecy Act deficiencies under an order signed in February (and previously reported on here). The branches affected are the Los Angeles, Chicago, and New York branches of MUFG Bank, Ltd., Tokyo.

Also listed was a $10,000 civil money penalty against William R. Blanton, former director and interim chief executive officer (CEO) and vice chairman of United Americas Bank, N.A., (Atlanta, Ga.), in a proceeding dating back to 2015 (and which Blanton paid in 2017).

The OCC also signed a formal agreement in February with the board of Ben Franklin Bank of Illinois, a federal savings association (FSA) in Arlington Heights, Ill. The bank is required to take measures addressing unsafe or unsound practices, including those relating to operating the bank with deficient earnings, according to the agreement.

The termination of three previous enforcement actions is included on the list.

OCC Enforcement Actions and Terminations for March 2019

RR: OCC completes BSA exam of Tokyo bank’s federal branches, sets new cease-and-desist order (Feb. 22, 2019)