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Consent Order

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By Hanah Cho, The Baltimore Sun | November 3, 2011
Baltimore's CFG Community Bank and its parent company, Capital Funding Bancorp, have agreed to a consent order with state and federal bank regulators to shore up their corporate governance and management review processes. Under the order released Thursday, Capital Funding agreed to hire a consultant acceptable to the Federal Reserve Bank of Richmond and the Maryland Commissioner of Financial Regulation to review the bank's corporate governance and board and management structure. Capital Funding is required to address findings in the consultant's report.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 10, 2014
The owner of a Columbia medical practice was ordered to pay more than $142,600 in restitution and other costs for failing to remit employee contributions and loan repayments to the company's 401K plan, the U.S. Department of Labor said Thursday. David O. Nyanjom, Laura Nyanjom, Pulmonary Disease & Critical Care Associates and the company's 401 (k) plan must pay $66,474 in unremitted contributions and payments and the balance in pre-judgment interest and costs of appointing an independent fiduciary according to a consent judgment in a lawsuit filed in U.S. District Court in Baltimore.
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NEWS
By Michael James and Michael James,Staff writer | September 22, 1991
Straight Inc. has established a tenuous foothold in Maryland, where state officials have allowed the drug treatment center a one-year tryout that aims to put the program -- and the rumors and allegations against it -- to the test.After 100 hours of evaluation, officials granted Straight's Columbia facility conditional approval last week."We will be watching them very closely. We haven't forgotten about the allegations we've heard, but to date we have seen no proof of them," said Nelson J. Sabatini, chief of the state Department of Health and Mental Hygiene.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 31, 2013
At one point during the three years that Harbor Bank of Maryland operated under heightened federal scrutiny, a regulator asked CEO Joseph Haskins Jr. why he stuck it out. Why not just retire? But for Haskins, one of the founders of the Baltimore bank in 1982, walking away was not an option. "I've grown up not running from a challenge, but facing it head on and looking to find a solution," said Haskins, 65. "And so, it isn't in my DNA to wilt under pressure. In fact, it only strengthens my resolve.
BUSINESS
By From Staff Reports | April 21, 1994
Consumers who believe they may be due a refund under a recent Federal Trade Commission agreement with the Bally health club chain, which operates Holiday Health Spas in Maryland, have until the close of business Monday to call the FTC hot line in Washington.The deadline of April 25 was set this week, when a federal judge signed a consent order that gives legal force to an agreement between the Bally chain and the FTC.FTC investigators had found that Bally charged credit cards or debited bank accounts without authorization, used harassment or deception to collect on consumer debts and failed to give pro-rated refunds when customers canceled memberships.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | December 28, 1999
Merrill Lynch & Co. Inc. has paid a $50,000 fine and $175,253 in restitution to settle charges that a former broker in Baltimore inappropriately invested clients' money in a company that the New York brokerage helped to take public, the Maryland Securities Division said yesterday.The agency said the brokerage firm had agreed in a consent order to also improve the supervision and training of its employees in the Baltimore office.The division had alleged that Merrill Lynch failed to file disclosure reports about some customer complaints between 1991 and 1996.
BUSINESS
January 20, 1996
PaineWebber Inc., the investment and brokerage firm, has agreed to pay a fine of $115,890 to the state of Maryland as part of a multi-state settlement concerning alleged violations of securities law.The charges grew out of the sale of limited partnerships in the late 1980s and early 1990s.The settlement will be incorporated in a consent order with the securities division of the Maryland attorney general's office and requires the firm to take steps to prevent future violations of securities law.In a related consent order issued by the Securities and Exchange Commission, PaineWebber will pay $292.
BUSINESS
February 20, 2009
CEG deal with French utility OK'd by FERC Constellation Energy Group has cleared one regulatory hurdle for sale of half of its nuclear power business to France's largest utility. The Federal Energy Regulatory Commission approved yesterday the $4.5 billion transaction, saying the deal "will not adversely affect competition, rates or regulations." The Baltimore company agreed in December to sell half of its nuclear business to Electricite de France. In doing so, Constellation scrapped an earlier agreement with MidAmerican Energy Holdings Co., a deal reached in September amid a liquidity crisis facing the company.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 8, 2011
Former 1st Mariner Bank executive Daniel McKew has landed a job at Baltimore's CFG Community Bank. CFG Community announced Tuesday that McKew will become its president. McKew left 1st Mariner after a year as its president. Previously, McKew served as chief executive of SunTrust Equipment Finance & Leasing Corp. in Towson. CFG Community Bank and its holding company, Capital Funding Bancorp, are operating under a consent order with state and federal bank regulators to shore up their corporate governance and management review processes.
NEWS
March 10, 1991
A consultant's report says capital-benefits fees the city charges developers fall within agreeable limits.The City Council will discuss the report at its regular meeting tomorrow night.The study stems from a suit filed against the city by Hampstead developer Martin K. P. Hill, who charged that the fees, enacted in August 1988, were exorbitant.Part of the consent order resulting from the suit called for Hill and the city to agree on a consultant to review the capital-benefits fee program and rate structure.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 24, 2013
Talbot Bank of Easton, Maryland said Friday it has entered into a consent order with federal and state regulators. That order from the Federal Deposit Insurance Corp. and the Commissioner of Financial Regulation of Maryland requires the bank to improve its credit quality and revise some of its policies and procedures, the bank said. "No bank has been immune from the challenges created by the economic downturn," CEO Patrick M. Bilbrough said in a statement. "As we deal with those challenges, we are working closely with the FDIC and the commissioner to make sure that we handle these challenges in the correct way in a timely manner.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 15, 2013
Attorneys General in Maryland and 29 other states have reached a $29 million settlement with Toyota Motor Corp. designed to strengthen protections for consumers impacted by safety defects and prevent miscommunication over faulty equipment. Toyota had failed to warn consumers in a timely manner about known problems with unintended acceleration caused by sticky accelerator pedals and floor mat pedal entrapment, according to a complaint filed Thursday by the Maryland AG's Consumer Protection Division.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 25, 2011
Federal regulators have ordered Regal Bank & Trust in Owings Mills to make certain changes, such as drawing up written plans for maintaining capital levels and reducing "substandard" assets, according to a document released Friday by the Federal Deposit Insurance Corp. Regal agreed to the order, issued a month ago, without admitting or denying any charges of unsafe or unsound banking practices, the FDIC said. Regal says it has $189 million in assets. Besides its Owings Mills headquarters, Regal has three branches in Baltimore County and Carroll County.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 8, 2011
Former 1st Mariner Bank executive Daniel McKew has landed a job at Baltimore's CFG Community Bank. CFG Community announced Tuesday that McKew will become its president. McKew left 1st Mariner after a year as its president. Previously, McKew served as chief executive of SunTrust Equipment Finance & Leasing Corp. in Towson. CFG Community Bank and its holding company, Capital Funding Bancorp, are operating under a consent order with state and federal bank regulators to shore up their corporate governance and management review processes.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 3, 2011
Baltimore's CFG Community Bank and its parent company, Capital Funding Bancorp, have agreed to a consent order with state and federal bank regulators to shore up their corporate governance and management review processes. Under the order released Thursday, Capital Funding agreed to hire a consultant acceptable to the Federal Reserve Bank of Richmond and the Maryland Commissioner of Financial Regulation to review the bank's corporate governance and board and management structure. Capital Funding is required to address findings in the consultant's report.
NEWS
By Andrea F. Siegel, The Baltimore Sun | December 2, 2010
A $590,000 jury award to a mother who said her child was harmed by lead paint in the family's rented Baltimore home was overturned this week by the state's second-highest court. The Court of Special Appeals ordered a new trial to determine whether Tyaih Dodd suffered lead paint poisoning in the house in the 2200 block of E. Lanvale St. It was among about 700 houses controlled by companies connected to Stanley Rochkind that fell under a 2001 consent order with the Maryland Department of the Environment to reduce or eliminate lead paint hazards.
NEWS
By Laurie Willis and Laurie Willis,SUN STAFF | January 8, 2000
A 78-year-old woman whose Pratt Street rowhouse is in substandard condition has agreed to move out of her home by Friday so the city can make repairs. With her daughter at her side, Marguerite Greaver signed a consent order in District Court on Thursday that requires her to be out by 1 p.m. Friday. The consent order says she must rehabilitate, raze or transfer the property by May 1. City officials have arranged to repair the structure and temporarily move Greaver to an assisted-living center in Bolton Hill, about two miles from her West Baltimore home.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | September 4, 1999
In a filing to federal regulators yesterday, Lockheed Martin Corp. revealed a potential hitch in its plan to acquire Bethesda neighbor Comsat Corp.The trouble centers on Lockheed Martin's relationship with Loral Space & Communications Ltd., in which it holds a 14 percent stake.To allay antitrust concerns about its ownership of shares of two satellite communications companies, Lockheed was willing to enter a consent order on the terms of its sale of its Loral shares.However, Lockheed said its entry into such a consent order was contingent on getting assurances from Loral on the conditions of the divestiture.
BUSINESS
February 20, 2009
CEG deal with French utility OK'd by FERC Constellation Energy Group has cleared one regulatory hurdle for sale of half of its nuclear power business to France's largest utility. The Federal Energy Regulatory Commission approved yesterday the $4.5 billion transaction, saying the deal "will not adversely affect competition, rates or regulations." The Baltimore company agreed in December to sell half of its nuclear business to Electricite de France. In doing so, Constellation scrapped an earlier agreement with MidAmerican Energy Holdings Co., a deal reached in September amid a liquidity crisis facing the company.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | February 12, 2009
Bay National Bank said yesterday that it is operating under formal oversight by federal regulators as it tries to recover from losses on bad mortgage loans. The Baltimore bank was placed under a consent order Feb. 6 by the Office of the Comptroller of the Currency, which charters, regulates and supervises national banks. The order requires Bay National, which has two full-service banking offices in Baltimore and Salisbury, to devise a plan to improve its liquidity and capital and deal with problem loans.
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