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In a piece on The Clearing House website, Comptroller of the Currency Thomas Curry said the culture fostered by top executives can have more to do with creating problems at banks than individual bad decisions.
October 8 -
Regulators recently offered a rare behind-the-scenes glimpse of what areas they are targeting for enforcement, saying that potential fair lending violations like redlining and how mortgages are priced and serviced remain top priorities for the future.
October 6 -
Malvern Bancorp (MLVF) in suburban Philadelphia announced Wednesday the resignation of president and chief executive Ronald Anderson.
January 15
Malvern Bancorp in Paoli, Pa., has entered into a formal written agreement with the Office of the Comptroller of the Currency.
The company
The new agreement requires the bank to form a compliance committee, periodically review its management and revise its written strategic and capital plans, among other things. The bank is also barred from paying dividends without OCC approval.
The $578 million-asset Malvern announced last month that it had hired Anthony Weagley, a former chief executive at Center Bancorp in New Jersey, as its president and CEO.
Malvern has had a turbulent year. Ronald Anderson resigned as CEO in January, shortly after the company reached a truce with dissident investor Joseph Stilwell. Recently, the company has been facing pressure to sell from activist investor PL Capital.
