REGULATION · US
FDIC bans and fines ex-bank CEO for unsafe transactions concealed from regulators
The FDIC took enforcement action against Harry C. Calcutt III, former CEO, banning him from banking and imposing financial penalties for negotiating and approving unsafe transactions, then deliberately concealing them from supervisors. The case involved prior Supreme Court litigation on regulatory authority.
WHY IT MATTERS
Signals FDIC willingness to pursue personal enforcement against executive-level concealment; raises stakes for risk officers and board audit committees to ensure transparent control environment and data governance.
Source: Banking Dive · 2026-06-01