Have you heard that a former senior trust officer at White Hall’s Relyance Bank was banned from working in the banking industry after allegedly misappropriating $384,000?
The Office of the Comptroller of the Currency entered a consent order with Kristi Carol Barger that found she took the money from wealth management customer accounts between June 1, 2018, and June 18, 2020.
“We were the ones to uncover it,” said Chuck Morgan, CEO of Relyance Bank. “Not one customer or one Relyance client lost one penny.”
The OCC findings noted that Barger breached her fiduciary duty to Relyance and engaged in unsafe or unsound practices while demonstrating personal dishonesty and disregard for the safety and soundness of the bank.
All of this was part of a pattern of misconduct for personal financial gain, according to the consent order.
As with all such OCC orders, Barger signed off on it without admitting or denying any wrongdoing.
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