Access Funding, LLC; Access Holding, LLC; Reliance Funding, LLC; Lee Jundanian; Raffi Boghosian; Michael Borkowski; and Charles Smith

2016 Community Banks / Credit Unions

CFPB Consumer Financial Violation

Penalty

$40,000

Outcome

Access Funding, LLC; Access Holding, LLC; Reliance Funding, LLC; Lee Jundanian; Raffi Boghosian; Michael Borkowski; and Charles Smith was subject to a $40,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

Access Funding, LLC; Access Holding, LLC; Reliance Funding, LLC; Lee Jundanian; Raffi Boghosian; Michael Borkowski; and Charles Smith — $40,000 CFPB Enforcement

Outcome: Access Funding, LLC; Access Holding, LLC; Reliance Funding, LLC; Lee Jundanian; Raffi Boghosian; Michael Borkowski; and Charles Smith was subject to a $40,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Action Type: enforcement-action

How Crucible Prevents This

Crucible's continuous compliance monitoring would have flagged the regulatory gaps that led to this CFPB enforcement action — through automated regulatory adherence checks, BSA/AML monitoring, consumer protection compliance tracking, and corrective action plan enforcement — preventing the violations before they triggered federal action.

Source: CFPB Enforcement Actions — Access Funding, LLC; Access Holding, LLC; Reliance Funding, LLC; Lee Jundanian; Raffi Boghosian; Michael Borkowski; and Charles Smith

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