10/31/2024 | Press release | Distributed by Public on 10/31/2024 10:13
ALEXANDRIA, Va. (Oct. 31, 2024) - The National Credit Union Administration issued three consent orders and one prohibition notice in October 2024. The individuals named below are permanently prohibited from participating in the affairs of any federally insured depository institution.
Consent Orders:
Notice of Prohibition:
An Order of Prohibition prohibits a party from ever working for a federally insured depository institution.
In addition to Orders of Prohibition, the NCUA, on occasion, issues administrative orders, which are formal, legally enforceable orders issued pursuant to Section 206 of the Federal Credit Union Act. Generally, the NCUA issues administrative orders when it finds that a credit union - or persons affiliated with a credit union - have violated a law, rule, or regulation; breached a fiduciary duty; or engaged in an unsafe or unsound practice.
The three most common orders issued by the NCUA include:
Agency enforcement orders and notices are searchable by name, institution, city, state, and year on the NCUA's Administrative Orders webpage. The webpage also provides links to the federal enforcement actions of federal banking agencies against other institutions or their affiliated parties.
The public may view NCUA enforcement orders online or the public may order copies by mail from the NCUA at 1775 Duke Street, Alexandria, Virginia 22314-3428.