Release Date: June 23, 2008
For immediate release
The Federal Reserve Board on Monday announced the issuance of a Consent Order of Prohibition and Order of Assessment of Civil Money Penalty in the amount of $15,000 against Susan M. West, a former senior vice president, private banking officer, and institution-affiliated party of Compass Bank, Birmingham, Alabama.
Ms. West, without admitting to any allegations, consented to the issuance of the Orders, which were based on her alleged participation in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty that resulted in substantial losses to the Bank in connection with her activities as a loan officer of the Bank.
A copy of the Order is attached.