Bert Lance was fined $50,000 for bank violations.
- Share via
The former federal budget director agreed to pay the fine and not to work again in a federally insured bank without government approval as part of a settlement worked out with the Office of Comptroller of the Currency. The deal also calls for directors of Lance’s Georgia bank, Calhoun First National Bank, to pay $32,000 in fines from their own pockets. The agreement settles federal charges that Lance had engaged in check kiting, received insider loans and took improper payments from a credit life insurance policy in 1982-84 while a director and principal shareholder of the Calhoun bank. Lance resigned as chairman of the bank in January.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.