T Bank Didn't Have Unsafe Dealings With Check Processor: ALJ

Law360, New York (November 9, 2012, 4:06 PM EST) -- A federal administrative law judge said Thursday that a former T Bank NA CEO had not conducted unsafe practices in dealing with a third-party payment processor who made so-called remotely created checks that don’t require signatures and have since been linked to fraudulent transactions.

In a recommended decision after a week-long trial in Texas, Administrative Law Judge C. Richard Miserendino said former T Bank CEO Patrick Adams and the bank’s officers had sufficiently addressed concerns about the bank’s risks by the U.S. Treasury’s comptroller of the...
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