Latest news with #ConsentOrder
Business Wire
07-08-2025
- Business
- Business Wire
Finward Bancorp Announces Termination of Consent Order
MUNSTER, Ind.--(BUSINESS WIRE)--Finward Bancorp (Nasdaq: FNWD) (the 'Bancorp'), the holding company for Peoples Bank (the 'Bank'), today announced that on August 6, 2025 the Federal Deposit Insurance Corporation ('FDIC') and the Indiana Department of Financial Institutions ('DFI') terminated the Consent Order issued to the Bank that was effective on November 7, 2023 relating to the Bank's compliance with the Bank Secrecy Act and its implementing regulations (collectively, the 'BSA'). The termination of the Consent Order follows the Bank's successful resolution of the deficiencies in the Bank's BSA compliance and anti-money laundering compliance program, which was the subject of the Consent Order. 'We are very pleased to announce the termination of the Consent Order and the successful resolution of this matter. We want to convey our sincere appreciation and thanks to our board of directors, management team, and staff who worked tirelessly to achieve the requirements of the Consent Order, satisfy our regulators' concerns, and strengthen the BSA/AML compliance program of Peoples Bank,' said Benjamin J. Bochnowski, President and Chief Executive Officer of the Bancorp. 'As a company, we are proud of the hard work and dedication our team has shown throughout this process. The termination of the Consent Order reflects our ongoing commitment to strong compliance, sound banking practices, and serving our customers with integrity. We also want to thank the regulatory and supervisory staff at the FDIC and DFI for their diligent efforts and oversight as we enhanced the Bank's BSA/AML compliance program.' About Finward Bancorp Finward Bancorp is a locally managed and independent financial holding company headquartered in Munster, Indiana, whose activities are primarily limited to holding the stock of Peoples Bank. Peoples Bank provides a wide range of personal, business, electronic and wealth management financial services from its 26 locations in Lake and Porter Counties in Northwest Indiana and Chicagoland. Finward Bancorp's common stock is quoted on The NASDAQ Stock Market, LLC under the symbol FNWD. The website provides information on Peoples Bank's products and services, and Finward Bancorp's investor relations.
Economic Times
22-06-2025
- Business
- Economic Times
Hotels, restaurants, auditoriums in national capital don't require NOCs from Delhi Police as per a new order
iStock Representative Image Hotels, motels, guesthouses, restaurants, discotheques, amusement parks, auditoriums, swimming pools and video game parlours in the national capital won't require licenses, or no objection certificates from Delhi Police, as per a June 19 order approved by lieutenant governor (LG) Vinai Kumar Saxena. The doing away of procuring the no objection certificates (NOCs) from the police, considered by some to be time consuming and arduous, will boost ease of doing business for the hospitality industry and restaurant industry, industry insiders said. "This is a very positive step towards bringing in more revenues to Delhi and greater investments in the hotels, clubs and restaurants segment,' said Sandeep Anand Goyale, president of the Delhi chapter of National Restaurant Association of India (NRAI). He said in a meeting with chief minister Rekha Gupta on May 13, the industry body had apprised her of this issue. 'We believe this will also help boost tourism, as the order also covers other critical facets of the tourism ecosystem. Procuring NOCs from police officials was a long rope, and Delhi and West Bengal were the only two states requiring this,' he said. 'Now, under the unified license portal, establishments need a no objection certificate from the fire department, a health trade license, and a Delhi Pollution Control Committee Consent Order,' he added. Simran Sial, a member of the South Delhi Hotel Association said initially, Delhi Police was responsible as the nodal agency for collecting all the other NOCs from rest of the departments and then issuing their own license. 'When the unified license portal was launched, their work was redundant, and we had been discussing this with various departments. We had also sent a presentation to the LG regarding this, as it created unnecessary bottle necks like red tapism at times,' he said.'This is a much-needed change but we are also waiting for Delhi Police to issue their own clarifications as we require clarity on the other nuances. For instance, the parking NOC was issued by Delhi Police so what happens to that,' he June 19 order stated that the government of India, with an intention to achieve the motto of 'minimum government and maximum governance' has taken up an initiative to reduce multiple licensing regimes, being followed in different states/union territories and requested for simplifying licensing procedures. 'Progressive states like Gujarat, Karnataka, Goa, Maharashtra etc have already done away with the requirement of licenses from police for the above categories,' stated the order.
Time of India
22-06-2025
- Business
- Time of India
Hotels, restaurants, auditoriums in national capital don't require NOCs from Delhi Police as per a new order
Hotels, motels, guesthouses, restaurants, discotheques, amusement parks, auditoriums, swimming pools and video game parlours in the national capital won't require licenses, or no objection certificates from Delhi Police, as per a June 19 order approved by lieutenant governor (LG) Vinai Kumar Saxena . The doing away of procuring the no objection certificates (NOCs) from the police, considered by some to be time consuming and arduous, will boost ease of doing business for the hospitality industry and restaurant industry, industry insiders said. "This is a very positive step towards bringing in more revenues to Delhi and greater investments in the hotels, clubs and restaurants segment,' said Sandeep Anand Goyale , president of the Delhi chapter of National Restaurant Association of India (NRAI). He said in a meeting with chief minister Rekha Gupta on May 13, the industry body had apprised her of this issue. 'We believe this will also help boost tourism, as the order also covers other critical facets of the tourism ecosystem. Procuring NOCs from police officials was a long rope, and Delhi and West Bengal were the only two states requiring this,' he said. 'Now, under the unified license portal, establishments need a no objection certificate from the fire department, a health trade license, and a Delhi Pollution Control Committee Consent Order,' he added. Simran Sial, a member of the South Delhi Hotel Association said initially, Delhi Police was responsible as the nodal agency for collecting all the other NOCs from rest of the departments and then issuing their own license. Live Events 'When the unified license portal was launched, their work was redundant, and we had been discussing this with various departments. We had also sent a presentation to the LG regarding this, as it created unnecessary bottle necks like red tapism at times,' he said. 'This is a much-needed change but we are also waiting for Delhi Police to issue their own clarifications as we require clarity on the other nuances. For instance, the parking NOC was issued by Delhi Police so what happens to that,' he added. The June 19 order stated that the government of India, with an intention to achieve the motto of 'minimum government and maximum governance' has taken up an initiative to reduce multiple licensing regimes, being followed in different states/union territories and requested for simplifying licensing procedures. 'Progressive states like Gujarat, Karnataka, Goa, Maharashtra etc have already done away with the requirement of licenses from police for the above categories,' stated the order.
Yahoo
11-06-2025
- Sport
- Yahoo
SCASD settles lawsuit with parochial students who were barred from extracurriculars
STATE COLLEGE, Pa. (WTAJ) —The United States District Court for the Middle District of Pennsylvania has confirmed that the State College Area School District has settled a lawsuit claiming that it discriminated against children from parochial schools. Court documents show that the district and the board of directors were being sued over accusations that extracurricular activities and education programs provided by the school to students, homeschool students and charter school students were not open to students from parochial schools. However, on June 10, the district agreed to settle with the students and guardians who were suing. Along with the announcement, court documents showed that several things were agreed upon and will be in place moving forward. Penn Highlands Community College's dual enrollment program helping local students The district agreed to make extracurricular activities and programs available to all eligible students in the district while also imposing student selection criteria. However, parochial students whose schools sponsor interscholastic sports will not be eligible to participate in the same sports at the State College Area School District. Similarly, the same rules will apply to any after-school program or club. If the parochial school offers the program itself or one of a similar nature, then the student will only be eligible for the one offered by the parochial school. WTAJ reached out to the State College Area School District for comment on the settlement, and the school solicitor gave the following in response. 'In the context of the issue of whether students who reside in the school district and attend parochial schools can participate in school district sponsored sports activities and teams, the school district had always believed that the school district could not permit such participation because, among other reasons, PIAA disfavored it. Through the litigation, the school district determined that this is not always the case. Because PIAA's position on this subject is not clear, the Consent Order provides essentially that PIAA must first approve of parochial school student participation on school district sports teams before there is any obligation on the part of the school district to permit the participation,' Scott Etter said. They also noted that when it comes to sports, if the Pennsylvania Interscholastic Athletic Association (PIAA) declares a parochial student ineligible, then the school may also declare them ineligible without violating the agreement. The court also ordered the school district in the next 30 days to pay the 'agreed upon sum' and that the case is now closed. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-06-2025
- Business
- Yahoo
DOJ seeks early end of Lakeland's redlining consent order
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Justice Department has moved to terminate a 2022 redlining consent order against New Jersey's Lakeland Bank more than two years ahead of schedule, court documents show. Lakeland Bank, which was acquired by Provident Financial Services last spring, agreed to pay more than $13 million to settle redlining allegations in September 2022. The DOJ ordered the bank at the time to invest $12 million in a loan fund for Black and Hispanic residents, spend $750,000 on advertising, outreach and consumer education; and dole out $400,000 to develop community partnerships geared toward increasing minority access to residential mortgage credit. Lakeland entered into a five-year consent order set to dissolve in September 2027, save modifications proposed by either party and approved by the court. When Provident acquired Lakeland, it assumed responsibility for the requirements of the consent order; and on May 28, the DOJ advised the court that the bank 'has demonstrated a commitment to remediation and has reached substantial compliance with the monetary and injunctive terms of the Consent Order.' 'As part of its motion, the DOJ further states that Provident has committed to continuing its disbursement of the mortgage loan subsidy fund and to provide the United States confirmation of that disbursement upon completion,' Provident spokesperson Keith Buscio told Banking Dive via email. 'Provident acknowledges the benefit of the mortgage loan subsidy to underserved communities and, in the event the DOJ's motion is granted, will commit to spending the remaining amount under the subsidy.' The DOJ's move to terminate the consent order follows its action late last month to terminate another redlining consent order – against Jackson, Mississippi-based Trustmark Bank. The DOJ looks to be following in the footsteps of the Consumer Financial Protection Bureau, which said in April it would shift its focus away from fair lending cases based 'solely on statistical evidence and/or stray remarks that may be susceptible to adverse inferences.' The CFPB will only pursue lending law matters with 'proven actual intentional racial discrimination and actual identified victims,' it said. Economic justice nonprofit New Jersey Citizen Action Executive Director Dena Mottola Jaborska said Monday that the motion to terminate the consent order in the Lakeland case is 'yet another example of how the Trump administration has no respect for the law or the needs of low-and moderate-income communities, and in particular the needs of people of color.' 'It's unconscionable that the Department of Justice would vacate its own consent order to a bank that violated the law by denying black and brown families equitable access to homeownership and other critical financial tools,' Jaborska said in a prepared statement. NJCA sister organization New Jersey Citizen Action Education Fund filed an affidavit for an amicus brief in federal court to halt the termination Monday. Recommended Reading City National Bank to pay $31M redlining settlement
