Tagged: Sterling Bank

Sterling Bank’s ex-General Counsel hit with OCC Cease-and-Desist over Longstanding BSA/AML Shortcomings

Sterling Bank’s ex-General Counsel hit with OCC Cease-and-Desist over Longstanding BSA/AML Shortcomings

The Treasury Department’s Office of the Comptroller of the Currency (“OCC”) has taken action against the former General Counsel of Michigan-based Sterling Bank and Trust in the agency’s latest action against an individual corporate officer for failure to maintain an adequate Bank Secrecy Act (“BSA”) compliance program. Between 2012 and 2023, Colleen Kimmel was employed in various compliance-related capacities at Sterling Bank, including as General...