Seven orders to pay civil money penalties (CMPs) – all assessed against workers at the same bank – totaling $275,500 were among those issued as enforcement actions in January, the federal insurer of bank deposits said Friday.
The Federal Deposit Insurance Corp. (FDIC) said the seven CMPs were assessed against employees of Bank of England, England, Ark., for actions taken at a Michigan loan production office.
The penalties against the employees of the Arkansas bank were allegedly related to loans offered or made to veterans in 2019. Specifically, the FDIC alleged that workers were involved in a scheme in which loan officers misrepresented available loan prices for mortgage loans, that consumers could skip two months of their mortgage payments, and the bank’s loan production office’s affiliation with the U.S. Department of Veteran’s affairs. The loan production office was based in Bloomfield, Mich., the agency said.
The FDIC said the largest penalties were assessed against Zach Jabro, the former manager of the Michigan branch, for $110,000; and against Ryan Qarana, the assistant manager of the branch, for $100,000. Qarana was also removed from the bank and prohibited from future service at a federally insured financial institution.
Other former Bank of England, Arkansas, workers who were fined included: Maria Abdulnoor, for $35,000; Salam Yaldo, $15,000; Jasmine Jonna, $12,000 (the former sales manager in the Michigan branch, she was also removed and prohibited from future service); Ramy Zoma, $2,500; and Janel Zaitona, $1,000.