OCC Will Hold Hearing on Charges against James E. Guldi
July 27, 2016 / Source: OCC
The Office of the Comptroller of the Currency (OCC) announced a public hearing before an Administrative Law Judge beginning Tuesday, July 26, 2016, where the OCC will litigate enforcement actions against James E. Guldi, former Loan Officer of Fidelity Bank of Florida, N.A.
On December 1, 2015, the OCC charged Mr. Guldi with engaging in unsafe or unsound banking practices and breaching his fiduciary duties to the bank. The OCC alleged Mr. Guldi engaged in a conflict of interest by reason of his personal financial relationship with a bank customer for whom he also served as the bank’s loan officer. The OCC further alleged, among other things, that Mr. Guldi owned a small interest in the bank customer, and certain of the bank’s loans to the customer were used to repay Mr. Guldi for loans he personally made to the customer outside of the bank. The OCC sought an order prohibiting Mr. Guldi from further participation in the conduct of the affairs of any insured depository institution pursuant to 12 U.S.C. § 1818(e), and the assessment of a $20,000 civil money penalty against Mr. Guldi pursuant to 12 U.S.C. § 1818(i).
The Administrative Law Judge has ruled that the OCC is entitled to summary disposition on its prohibition and civil money penalty actions, and that a hearing will be held solely for the presentation of evidence on the statutory and regulatory civil money penalty mitigation factors.
The hearing will commence at 9:00 a.m. on Tuesday, July 26, 2016, in Courtroom 5B of the Seminole County Criminal Justice Center, 101 Bush Boulevard, Sanford, Florida 32773. OCC administrative hearings are open to the public as required by federal law.