First Central Savings Bank

Glen Cove, NY 2016 Community Banks / Credit Unions

FDIC Civil Money Penalty Removal Prohibition

Penalty

$195,000

Outcome

Decision and Order to Prohibit From Further Participation

Details

First Central Savings Bank — FDIC Enforcement (2016)

FDIC took enforcement action against First Central Savings Bank in Glen Cove, NY in 2016 involving civil money penalty, removal prohibition violations in the Community Banks / Credit Unions sector.

Penalty: $195,000

Violation types: Civil Money Penalty, Removal Prohibition
Entity type: Financial Institution
Penalty type: Civil Money Penalty
Location: Glen Cove, NY

Source: FDIC ED&O — FDIC-13-0444e,FDIC-13-0443k

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.

Source: FDIC ED&O — FDIC-13-0444e,FDIC-13-0443k

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