Compliance
Private Bankers Fall Foul of Kick-Back Provisions
The US’ Office of the Comptroller of the Currency has announced consent orders against two former bank officers involved in a fraudulent mor...
The US’ Office of the Comptroller of the Currency has announced consent orders against two former bank officers involved in a fraudulent mortgage scheme.
Tom Trammell, former senior vice president and private banking manager of Southwest Bank of Texas, as well as Whitney National Bank is permanently banned from the banking industry and will pay a $250,000 fine.
A second consent order imposes a lifetime ban on David Ranostaj from the banking industry. As former vice president and loan officer of both banks, Mr Ranostaj has been given a $130,000 fine. Mr Trammell and Mr Ranostaj have also entered into agreement with the banks to pay restitution.
