James R. Carnes; Melissa C. Carnes; James R. Carnes Revocable Trust; Melissa C. Carnes Revocable Trust

2023 Community Banks / Credit Unions

CFPB Fiduciary Breach

Penalty

$43 million

Outcome

James R. Carnes; Melissa C. Carnes; James R. Carnes Revocable Trust; Melissa C. Carnes Revocable Trust was subject to a $43,000,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

James R. Carnes; Melissa C. Carnes; James R. Carnes Revocable Trust; Melissa C. Carnes Revocable Trust — $43,000,000 CFPB Enforcement

Outcome: James R. Carnes; Melissa C. Carnes; James R. Carnes Revocable Trust; Melissa C. Carnes Revocable Trust was subject to a $43,000,000 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 — James R. Carnes; Melissa C. Carnes; James R. Carnes Revocable Trust; Melissa C. Carnes Revocable Trust

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