Credit: MichaelVi/Adobe Stock Regulator's Scolding of Michigan Bank GC 'Should Give Pause' to Compliance Personnel
The U.S. Comptroller of the Currency issued a cease-and-desist order against Colleen Kimmel, former general counsel of Sterling Bancorp, even though it doesn't allege she had any involvement in the $69 million fraud that threw the institution into chaos.
February 26, 2024 at 06:27 AM
6 minute read
Financial Services and Banking
The U.S. Comptroller of the Currency has issued a cease-and-desist order against the former general counsel of a Michigan bank that recently pleaded guilty to carrying out a $69 million fraud, even though the regulator is not asserting that the general counsel in any way participated in the wrongdoing.
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