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Reaches

TX 2013 Community Banks / Credit Unions
DOJ Fraud
Penalty
$700 million

Outcome

Justice Department Reaches Settlement with Fort Davis State Bank to Resolve Allegations of Lending Discrimination

Details

Reaches — DOJ Enforcement (2013)

DOJ took enforcement action against Reaches in TX in 2013 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $700 million

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Criminal
Location: TX

Source: DOJ Press Release — Justice Department Reaches Settlement with Fort Davis State Bank to Resolve Allegations of Lending Discrimination

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Justice Department Reaches Settlement with Fort Davis State Bank to Resolve Allegations of Lending Discrimination

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