WASHINGTON -- A lawyer who previously worked for a failed bank has been permanently barred from banking, the Office of the Comptroller of the Currency announced this week.

Augustus I. Cavallari Jr., former counsel to the failed Summit National Bank, Torrington, Conn., was banned from the industry because of his role in restructuring two insider-related loans that caused a loss to the bank of $544,903. Mr. Cavallari's action contributed to the bank's collapse in 1992, the OCC said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.