Former DeRidder bank official banned and fined $150,000 – American Press

A former DeRidder bank officer has been fined $150,000 and banned from participating in banking transactions after federal banking authorities discovered he obtained bank loans illegally for his own benefit and concealed his identity in other illegal lending activities.
Carroll Green, former chief financial officer and chairman of the board of Beauregard Federal Savings Bank (FSB) at DeRidder, was issued a civil penalty by the Office of the Comptroller of the Currency (OCC), US Department of the Treasury, earlier this year for illegal activities committed while in office.
According to a consent restraining order issued by the OCC dated December 16, 2021, Green was an affiliated party to an FSB institution between 2011 and 2019, serving as Chief Executive Officer, Chief Financial Officer, Chairman of the Board of administration and Chairman of the bank during these years and until December 2021.
According to the OCC, officials discovered that in 2016 Green concealed his identity when he obtained a $75,000 loan from the bank for his own benefit, using a bank manager as a name-only borrower, thereby violating banking laws and causing the bank to violate federal regulations.
In 2019, officials discovered that Green again concealed his involvement in financial transactions with a bank client that resulted in the acquisition of residential property using a registered loan obtained in the name of that bank customer, causing the bank to violate federal laws and regulations. once again.
The report goes on to state that on at least ten occasions between June 2016 and October 2018, Green knowingly originated or caused the bank to originate unsecured or partially secured consumer loans to the bank’s borrowers in order to provide borrowers with funds to cover the down payment. and closing costs related to home loans.
“These violations, practices or failures were part of a pattern of misconduct, caused loss or risk of loss to the bank and resulted in financial gain or other benefit to the defendant. Respondent’s misconduct demonstrated personal dishonesty, a willful or continued disregard for the security and soundness of the bank, and a reckless disregard for the law,” reads the report, signed by Assistant Comptroller for Special Supervision Michael Brickman.
This is the second time Green has been found guilty of violating federal banking regulations by the OCC.
In 2019, Green was ordered to pay $5,000 after discovering that between November 2014 and December 2016, when he was chairman and director of the FSB, he failed to settle regular overdrafts in his company account. and failed to ensure that the bank complied. with insider lending laws and regulations.

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