Given cites Arizona condition bank swept up within the Ponzi plan accusations
UniBank and its particular father or mother organization was indeed titled when you look at the legal actions alleging the bank facilitated loans that were regularly pay earlier investors off liquid and you may oils-and-gas firms.
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New Federal Set-aside given an enforcement step up against Lynnwood, Washington-founded UniBank this week in the middle of accusations the financial institution turned into swept up within the a good Ponzi scheme.
UniBank and its own father or mother organization, U&We Financial Corp., forged a binding agreement on the main financial and Washington nation’s Service out of Financial institutions while making alter to bolster the administration and you may procedure of the bank more what the Given called deficiencies in consumer compliance chance management. Weiterlesen