Two banking executives were barred from any future work in federally insured financial institutions in consent prohibition orders announced Thursday by the Office of the Comptroller of the Currency (OCC).
The agency’s prohibition orders noted that:
- Steven Ho, former vice president and senior mortgage lending officer at Quontic Bank, Astoria, N.Y., was barred for concealing his work with unapproved third-party mortgage brokers, falsifying material loan application information, and transferring confidential bank customer and business information to non-bank employees.
- Danny Seibel, former president, chief executive officer, and director at The First National Bank of Lindsay, Lindsay, Okla., was barred for extending loans to borrowers without adequately considering their ability to repay, allowing customers to significantly overdraft their accounts without repayment, and concealing loans that had been nonperforming for years by manipulating the bank’s core system to change the loans’ maturity dates, payment due dates, and past due statuses. The agency said Seibel’s misconduct caused the bank’s insolvency, and the bank was placed into receivership in October 2024. Seibel meanwhile pled guilty to one count of bank fraud.
The agency said it also terminated three enforcement orders: a cease-and-desist order from July 14, 2022, against Bank of America, N.A., Charlotte, N.C.; a formal agreement from July 23, 2024, with Maple City Savings Bank, FSB, Hornell, N.Y.; and a formal agreement from Oct. 29, 2021, with The Federal Savings Bank, Chicago, Ill.
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