Search Results: Banking

Regional Bank Settles Claims for $1.225 Million that it Ignored Fraudulent Transactions Committed by Third-Party Payment Processors

On March 12, 2015, the Justice Department announced a settlement with a regional bank over allegations that the bank violated FIRREA by permitting an intermediary third-party payment processor to process fraudulent payments through the bank. The payment processor opened an account at the bank for the purpose of processing electronic…

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