Eagle Bancorp in settlement talks with SEC, Fed as CFO faces penalty

eagle bancorp in settlement talks with sec fed as cfo faces penalty

Sumary of Eagle Bancorp in settlement talks with SEC, Fed as CFO faces penalty:

  • The Securities and Exchange Commission has sent a notice to Eagle Bancorp Chief Financial Officer Charles Levingston signaling that it is planning to bring enforcement actions against him.
  • Evans was accused of several ethics violations in 2019, in part for his dealings with Eagle Bancorp and its former CEO and co-founder Ron Paul.
  • Evans was allegedly hired as a consultant by the bank and pushed local legislation that would move the district’s funds into local banks like Eagle, while he owned shares in the company.
  • There were also ethics concerns raised with Evans’s former role as chairman of the board at the Washington Metropolitan Area Transit Authority, which was allegedly a customer of Eagle’s at the time.
  • Paul stepped down from his post at the helm of Eagle in 2019 citing “serious health developments.
  • ”The SEC and Fed investigations have focused on the bank’s “identification, classification and disclosure of related party transactions” along with the retirement of former officers and directors.

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