Pamrapo Savings Bank of New Jersey Pleads Guilty to Conspiracy ...

https://www.justice.gov/.../pamrapo-savings-bank-new-jersey-pleads-guilty- conspiracy-commit-bank-secrecy-act-violations
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Mar 29, 2010 ... WASHINGTON – Pamrapo Savings Bank S.L.A., a wholly-owned subsidiary of Pamrapo Bancorp Inc., based in Bayonne, N.J., pleaded guilty ... An official website of the United States government Home » Office of Public Affairs » News Pamrapo Savings Bank of New Jersey Pleads Guilty to Conspiracy to Commit Bank Secrecy Act Violations and Forfeits $5 Million WASHINGTON – Pamrapo Savings Bank S.L.A., a wholly-owned subsidiary of Pamrapo Bancorp Inc., based in Bayonne, N.J., pleaded guilty today in U.S. District Court for the District of New Jersey to conspiracy to violate the Bank Secrecy Act and has agreed to forfeit $5 million to the United States.  The announcement was made by Assistant Attorney General Lanny A. Breuer of the Criminal Division; U.S. Attorney Paul J. Fishman for the District of New Jersey; Special Agent in Charge William P. Offord, Internal Revenue Service (IRS)-Criminal Investigation; Acting Director John E. Bowman of the Office of Thrift Supervision (OTS); and Inspector General Jon T. Rymer, Federal Deposit Insurance Corporation-Office of Inspector General (FDIC-OIG).  "This case is a good example of how disregarding reporting and compliance can turn into a crime," said Assistant Attorney General Lanny A. Breuer of the Criminal Division.  "Today’s guilty plea by Pamrapo Savings Bank should remind financial institutions, large and small across the country, of the high price they will pay for ignoring the law."  "Pamrapo Savings Bank’s repeated and blatant violation of the Bank Secrecy Act shielded criminals and their activities from detection and prosecution by law enforcement. This case should send a strong message to banks that we will vigorously investigate and prosecute financial institutions that provide safe harbor to criminals," said U.S. Attorney Paul J. Fishman. 



$1 Million Penalty Assessed Against Pamrapo Savings for Bank ...

https://www.fincen.gov/.../1-million-penalty-assessed-against-pamrapo- savings-bank-secrecy-act-violations
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Jun 3, 2010 ... ... (CMP) of $1 million against Pamrapo Savings Bank, S.L.A., of Bayonne, N.J. for violating requirements under the Bank Secrecy Act (BSA).       An official website of the United States Government $1 Million Penalty Assessed Against Pamrapo Savings for Bank Secrecy Act Violations Contact: Bill Grassano, (703) 905-3770 VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty (CMP) of $1 million against Pamrapo Savings Bank, S.L.A., of Bayonne, N.J. for violating requirements under the Bank Secrecy Act (BSA). Pamrapo’s lack of internal controls combined with unqualified BSA compliance personnel, relatively non-existent training and deficient independent testing resulted in a wholly ineffective BSA compliance program which, in turn, resulted in the failure to file a substantial number of currency transaction and suspicious activity reports in an accurate and timely manner. Pamrapo Savings Bank, without admitting or denying the allegations, consented to payment of the civil money penalty. FinCEN found that between January 1, 2005 and April 21, 2009, the bank flagrantly and repeatedly disregarded the most basic BSA requirements which resulted in an ineffective Anti-Money Laundering program and significant reporting failures. In addition, bank management did not heed a bank regulatory recommendation that a third party evaluate the bank’s BSA program. Bank management misled regulators by indicating this recommendation was given strong consideration at the highest levels of the bank but decided against taking action on it, when in fact, this recommendation was not considered at all.



Pamrapo Savings Bank, SLA

https://www.usbanklocations.com/pamrapo-savings-bank-sla-30579.shtml
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Pamrapo Savings Bank, SLA is not active anymore since 2010-07-06 due to Merger - Without Assistance. BCB Community Bank was the successor institution. HomeAdvanced SearchMapCheck Routing NumberWidgetsRankings Home > Pamrapo Savings Bank, SLA Status: Inactive as of 2010-07-06 Successor Bank: BCB Community Bank Headquarters: Pamrapo Savings Bank, SLA Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) 1887-01-01 Institution established: Original name:Pamrapo Savings and Loan Association 1988-08-31 Changed name to Pamrapo Savings Bank, SLA 1990-02-28 Changed organization type to STOCK SAVINGS & LOAN 1990-06-29 Acquired Elysian Federal Savings Bank (31532) in HOBOKEN, NJ 2010-07-06 Merged into and subsequently operated as part of BCB Community Bank (35541) in BAYONNE, NJ 2011-10-14 Acquired Allegiance Community Bank (35265) in SOUTH ORANGE, NJ 2018-04-17 Acquired Indus American Bank (57983) in EDISON, NJ Financial Information (2010-06-30 and Older) 1- 4 Family Residential Net Loans and Leases Loans to Depository Institutions Total Loans and Leases in Foreign Offices Maturity & Repricing for Loans and Leases Loans Restructured in Troubled Debt Restructurings Time Deposits of Less Than $100,000 Time Deposits of $100,000 or More Deposits Based on the $100,000 Reporting Threshold Deposits Based on the $250,000 Reporting Threshold Deposits Held in Foreign Offices Total Assets and Liabilities in Foreign Offices Past Due 30- 89 Days 1- 4 Family Residential Past Due 90+ Days 1- 4 Family Residential Nonaccrual 1- 4 Family Residential Past Due and Nonaccrual Loans Wholly or Partially US Gvmt Guaranteed










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