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Consent Order Enforcement Actions Internal Controls

Goodwin

Supervisory Experience and Enforcement Actions Continue to Drive Supervisory Priorities and Policy Development

Goodwin on

This article identifies themes we have observed in recent public formal enforcement actions issued to institutions by the US federal bank regulatory agencies (Agencies) — the Board of Governors of the Federal Reserve System...more

Kaufman & Canoles

Credit Union Client Alert – Wells Fargo Must Pay $250 Million Fine

Kaufman & Canoles on

The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more

Troutman Pepper

Wells Fargo Consent Orders Highlight Importance of Acting on Information From Third-Party Vendors

Troutman Pepper on

The OCC and CFPB consent orders issued against Wells Fargo on April 20 cited deficiencies in third-party oversight practices. The orders are the latest additions to an ever-expanding body of agency enforcement actions...more

Goodwin

Mortgage Lender Agrees to $28 Million Fine by NYDFS

Goodwin on

On November 9, 2016, the New York Department of Financial Services (NYDFS) announced it entered into a consent order with a New Jersey-based mortgage company and its subsidiary. The order stems from multiple...more

Dorsey & Whitney LLP

SEC, Bristol-Myers Settle FCPA Charges

Dorsey & Whitney LLP on

FCPA procedures, internal controls and travel, entertainment and gifts were at the center of the SEC’s latest FCPA action. The action names as a Respondent Bristol-Myers Squibb Company and focuses on its efforts to sell...more

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