A Torrance bank ran afoul of federal regulators.
The Office of Comptroller of the Currency said it had won a civil injunction against Torrance National Bank and members of its board of directors. The OCC, which regulates national banks, charged that the bank consistently filed quarterly reports late and that the bank’s directors failed to file required statements of ownership interest in the bank. The defendants agreed to the injunction without admitting or denying the agency’s allegations. The order bars the bank and its directors from any further violations of federal securities laws.
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