Mr. Tate briefly discussed with the Committee regulatory Matters Requiring Attention (MRAs) and communications received during the fourth quarter from the OCC. He reported that a total of five supervisory letters were received during the quarter, noting that one MRA was closed relative to BSA/AML and OFAC and one is pending validation relative to asset quality and risk assessment ratings commercial real estate. He also reported that there were no new MRAs issued and no violations of laws that were identified during the quarter. Mr. Tate reported that the OCC Midsize Bank Supervision (MBS) conducted a horizontal review during the months of June and July on seven banks, four midsize banks and three community banks, with Trustmark being one of the banks. He stated that results of the horizontal review relative to the 2016 mortgage servicing asset were received during the quarter; noting, feedback related to sales practices is still pending OCC review. He
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Tate stated that during the fourth quarter of 2016, there was a test call placed on December 13th to the Trustmark Corporation Whistleblower Hotline. He explained that this was initiated for the purpose of testing where calls were being directed and who was notified, during which time only the Human Resource Representative was notified. Upon review, it was decided to add John Shuff, Director of Internal Audit, and Granville Tate, General Counsel to receive notification of all such calls, as well. A second call was then made a week later to the Hotline to notify them that the first call received on December 13 was for testing purpose only, at which time both Mr. Tate and Mr. Shuff received notification. Mr. Tate then reviewed a chart of the Whistleblower Hotline / Incident Process for Trustmark Corporation, as seen in the Committee’s materials.
Next, Mr. Tate gave an update to pending litigation matters that will be fully disclosed to the Board of Directors at their meeting scheduled the following
Tate stated that during the fourth quarter of 2016, there was a test call placed on December 13th to the Trustmark Corporation Whistleblower Hotline. He explained that this was initiated for the purpose of testing where calls were being directed and who was notified, during which time only the Human Resource Representative was notified. Upon review, it was decided to add John Shuff, Director of Internal Audit, and Granville Tate, General Counsel to receive notification of all such calls, as well. A second call was then made a week later to the Hotline to notify them that the first call received on December 13 was for testing purpose only, at which time both Mr. Tate and Mr. Shuff received notification. Mr. Tate then reviewed a chart of the Whistleblower Hotline / Incident Process for Trustmark Corporation, as seen in the Committee’s materials.
Next, Mr. Tate gave an update to pending litigation matters that will be fully disclosed to the Board of Directors at their meeting scheduled the following