Department of Justice Civil and Criminal Complaint Against Commerce West Bank

Choke Point Settlement (2)

Picture from the complaint

On March 10, 2015, the US Department of Justice announced a settlement with CommerceWest Bank, located in Irvine, California, for its role in facilitating consumer fraud schemes.

BOA warning (2)

Picture from complaint

 

The bank is charged with a felony violation of the Bank Secrecy Act in connection with its relationship with a third-party payment processor.  In the civil complaint, CommerceWest Bank is alleged to have knowingly participated in consumer fraud by permitting this payment processor to make millions of dollars of unauthorized withdrawals from consumer bank accounts on behalf of fraudulent merchants.

hurting elderly (2)

Picture from complaint

To read the full press release and complaint, click here: CommerceWest Bank Admits Bank Secrecy Act Violation and Reaches $4.9 Million Settlement with Justice Department

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