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Depository and Licensee Enforcement Activity |
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| Depository Enforcement |
Enforcement actions are posted on this web site at the end of the month subsequent to the month in which the formal agreements are signed by the Bank and the Commissioner of Banking and Insurance or have been adjudicated by a court of law.
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| 2018 |
Institution: Century Savings Bank
Type of Action: Acknowledgment and Consent of Federal Deposit Insurance Corporation Consent Order
Effective Date: October 18, 2018
Reason: Safety and Soundness issues related to Board Supervision, Management, BSA Compliance Program, BSA Officer, BSA Risk Assessment, BSA Internal Controls, BSA Independent Testing, BSA Training, BSA Reports, Look back Review and Corrective Action.
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| Rescinded Enforcement Actions |
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| FDIC Enforcement Decisions and Orders |
Press Releases
Enforcement orders and notices are announced to the public in a monthly press release listing all final enforcement orders and notices of changes issued by the FDIC during the previous month and administrative hearings scheduled for the next month. |
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| Office of Consumer Finance Licensee Enforcement |
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| May 2018 |
Consent Order
Ocean City Fiberglass, Inc.
Edgar Rivero
Consent Order #AR16-1401063 and #AR17-1041063, May 9, 2018. Respondent home repair contractor licensee failed to file required annual reports in 2016 and 2017, and Department issued licensee a Notice of Violation, Contingent Order Suspending License and Imposing Fines, and Contingent Final Order as to each failure, accordingly. Licensee agreed to file missing annual reports and pay an administrative penalty. Penalty: $4,000. |
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| April 2018 |
Consent Order
Richie Frangiosa
NMLS #134678
1st ADV Holdings, LLC
Consent Order #E17-018529, April 3, 2018. Respondent person engaged in residential mortgage loan processing activities with respect to New Jersey property from a Texas-based company agreed to cease and desist from any such activities unless and until duly licensed by this Department. Penalty: cease and desist.
S. I. Mortgage Group, Inc.
NMLS #17635
Robert DeFalco
NMLS #89820
Consent Order #E18-01888, April 2, 2018. Respondent residential mortgage broker agreed to ensure that it maintains a surety bond continually in force, at the properly volume-adjusted penal amount, to ensure that statements in its annual report are true and accurate, and to pay an administrative penalty. Penalty: $6,000. |
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| March 2018 |
Consent Order
Blanca A. Medina
NMLS #246837
Consent Order #E18-018866, March 20, 2018. Respondent agreed to revocation of her mortgage loan originator license and a permanent bar from involvement in the residential mortgage loan origination business, as a result of a finding that she altered documents in connection with mortgage loan applications. Penalty: revocation and bar.
Gold Ring Investment, Inc.
NMLS #336468
Consent Order #E17-018765, March 15, 2018. Respondent mortgage broker agreed to ensure compliance with requirement to provide a residential mortgage loan applicant with a broker agreement detailing services and fees in accordance with regulations, and to pay an administrative penalty. This is a repeat violation found during a routine examination. Penalty: $1,000.
Golden Crown LLC
Adir Asoulin
Consent Order #E18-018867, March 8, 2018. Respondent pawnbroker agreed to pay administrative penalties for its failure to produce books and records required for examination and to file timely annual reports. Respondent agreed to pay past due assessments totaling $850. Penalty: $6,500.
Garden State Home Loans, Inc.
NMLS #473163
Justin DeJoseph
Consent Order #E17-018780, March 6, 2018. Respondent mortgage lender agreed to cease making use of persons not licensed as mortgage loan originators to perform licensed activities with respect to New Jersey residential mortgage loans, and to pay administrative penalties. Penalty: $12,000. |
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| January 2018 |
Consent Order
MLD Mortgage, Inc
d/b/a The Money Store
d/b/a Mortgage Lending Direct
NMLS #1019
Consent Order #18-18832, January 26, 2018. Resolved issues found in a multi-state examination conducted with the Multi-State Mortgage Committee of the Conference of State Bank Supervisors. Respondents agreed to cease conducting loan origination business through individual loan originators not licensed in the property state, to correct other policies and practices, and to pay administrative penalties. Multi-State Penalties: $720,000. |
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