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Depository and Licensee Enforcement Activity
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 Depository Enforcement

 

2014
Institution: The Bank of Princeton
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
February 3, 2014
Reason: Safety and soundness issues related to Board Supervision, Management, BSA Compliance Program, BSA/AML Risk Assessment, BSA Internal Controls, BSA Independent Testing, BSA Officer, BSA Staffing, BSA Training, BSA Reporting, BSA Look Back Review, Audit, and Correction of Violations.
 
2013
Institution: Liberty Bell Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
November 18, 2013
Reason: Safety and soundness issues related to Management, Loss Charge Offs, Classified Assets Reduction, Allowance for Loan and Lease Losses, Capital, Concentrations of Credit, Liquidity and Funds Management, Profit and Budget Plan, Dividends, Brokered Deposits and Correction of Violations
 
Institution: Community First Bank
Type of Action:
Acknowledgement and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date:
September 23, 2013
Reason: Safety and soundness issues related to Board Supervision, Management, BSA Compliance Program, BSA/AML Risk Assessment, BSA Internal Controls, BSA Independent Testing, BSA Officer, and BSA Staffing
 
Institution: Crown Bank
Type of Action:
Amended Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
May 9, 2013
Reason: Safety and soundness issues related to Management, Board Participation, Capital, Dividends, Loss Charge Offs, Asset Quality, Allowance for Loan and Lease Losses, Concentrations of Credit, Reappraisal/Reevaluation of Collateral, Loan Review Program, Other Real Estate Owned Policy, Capitalized Interest, Interest Reserves and Origination Fees, Management Information Systems, Growth Planning, Strategic Planning, Audit Program, Internal Routine and Controls, Liquidity and Funds Management, Brokered Deposits, and Financial Reporting
 
2012
Institution: Cornerstone Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
October 22, 2012
Reason: Safety and soundness issues related to Management, Board Participation, Asset Quality, Loan Review Program, Loan Policy, Capital, Profit and Budget Plan, and Strategic Plan

Institution: Parke Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
April 13, 2012
Reason: Safety and soundness issues related to Management, Board Participation, Asset Quality, Interest Reserves and Interest-Only Terms, Loan Review Program, Loan Policy, Concentration of Credit, and Profit and Budget Plan
 
2010
Institution: New Millennium Bank
Type of Action:
Consent Order - issued in parallel with the Federal Deposit Insurance Corporation
Effective Date:
November 16, 2010
Reason: Safety and soundness issues related to Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity to Market Risk and Information Technology functions
2009
Institution: Amboy Bank
Type of Action:
Written Agreement - issued in parallel with the Federal Reserve Bank of New York
Effective Date:
June 29 , 2009
Reason: Safety and Soundness issues related to Capital, Asset Quality, Earnings, Management, Liquidity and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Compliance
 
Office of Consumer Finance Enforcement
Previous Years: 2012 > 2011 > 2010 > 2009 > 2008 > 2007 > 2006
April 2013

Consent Orders

Rapid Check Cashing, Inc.
Domenic Pucillo
Consent Order #E13-012788, April 1, 2013. Licensee agreed to cease cashing checks at locations under the name Rapid Check Cashing until those locations are properly licensed as branches of same and agreed to ensure that all customer receipts identify the proper licensed name. Licensee agreed to pay an administrative penalty.  Penalty: $5000.

James B. Nutter & Company
George Lopez
Consent Order #E11-011141, April 25, 2013. Licensed mortgage lender agreed to cease collecting impermissible fees. Licensee agreed to pay an administrative penalty.  Penalty: $4,000.

Order to Show Cause

C & F, Inc.
Richard D. Fernandez
Order to Show Cause #E12-012364, April 1, 2013. Licensed casher of checks allegedly violated certain provisions of the Check Cashers Regulatory Act of 1993, governing the failure to make active use of licensed locations. Licensee ordered to show cause why his license should not be suspended or revoked, and why he should not be held liable for administrative penalties. Licensee has the right to request a hearing within 20 calendar days from the date of service. 

 
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New Jersey Department of Banking and Insurance