STATE BANK OF SPRINGFIELD
Outcome
DECISION AND ORDER
Details
STATE BANK OF SPRINGFIELD — FDIC Enforcement (1996)
FDIC took enforcement action against STATE BANK OF SPRINGFIELD in SPRINGFIELD, MN in 1996 involving civil money penalty, removal prohibition violations in the Community Banks / Credit Unions sector.
Penalty: $125,000
Violation types: Civil Money Penalty, Removal Prohibition
Entity type: Financial Institution
Penalty type: Civil Money Penalty
Location: SPRINGFIELD, MN
Source: FDIC ED&O — FDIC-93-240e, FDIC-93-241k
How Crucible Prevents This
Crucible's banking compliance controls enforce regulatory requirements and flag violations before they escalate to civil money penalties. Crucible's personnel compliance controls enforce background check requirements and monitor for prohibited activities by institution-affiliated parties.
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