November 16, 2011

Federal Reserve Board issues consent order of prohibition and assesses civil money penalty against Bryan Posey

For immediate release

The Federal Reserve Board on Wednesday announced the issuance of a Consent Order of Prohibition and assessment of a Civil Money Penalty against Bryan Posey, former president and director of Security Bank, Tulsa, Oklahoma, a state member bank.

The Consent Order resolved administrative charges brought by the Federal Reserve Board in April 2011. Those charges alleged that Posey had engaged in violations of law and unsafe and unsound banking practices, and breached his fiduciary duties in connection with his issuance and administration of commercial real estate and other loans.

The charges also included a notice of assessment of a civil money penalty. The Consent Order requires a civil money penalty payment of $35,000.

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Last Update: November 16, 2011