Lone Star National Bank is a full-service independent community bank with 31 locations across South Texas.
Founded in 1983 in Pharr, Texas by a group of businessmen who saw an opportunity to meet the loan needs of family-owned businesses, professionals, doctors, attorneys and accountants, Lone Star National Bank expanded with its first banking center in Hidalgo County in 1994. In August 2000, the bank opened another location outside of Hidalgo County in Rio Grande City and opened another banking center in Cameron County in July 2001. In March of 2010, Lone Star National Bank expanded to Bexar County and opened doors to a new banking center in San Antonio, Texas.
Consent Orders & Civil Money Penalty
The Office of the Comptroller of the Currency (OCC) on April 4, 2015, issued a consent order for a $1 million civil money penalty fine against Lone Star National Bank for violating the Bank Secrecy Act (BSA). The OCC has identified BSA and anti-money laundering (AML) deficiencies with the Bank's internal controls, independent audit, suspicious activity reporting, and foreign correspondent banking program. On July 9, 2012, the Bank entered into a separate consent order (2012-160) with the OCC, which required the Bank to undertake remedial actions with respect to its BSA/AML program. An additional consent order (2015-029) was issued on March 31, 2015, in regards to serious deficiencies in their lending practices.
References
- ^ San Antonio Business Journal, Lone Star National Bank targets San Antonio in its expansion strategy, February 14, 2010
- ^ NSIDE SA, A Star On The Rise, May 2011
- ^ OCC Enforcement Action 2015-028
- ^ BankersOnline BSA/AML Monetary Penalties List
- ^ Lone Star National Bank pays $1M Federal Penalty The Monitor
- ^ OCC Enforcement Action 2012-160
- ^ Bank Fined $1 Million Dollars KRGV
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