NCUA Bans Two Individuals from Banking Activities

ALEXANDRIA, Va. (July 31, 2024) – In a recent move, the National Credit Union Administration (NCUA) has permanently banned two individuals from ever working in the affairs of any federally insured bank or credit union.

These Orders of Prohibition are serious measures taken by the NCUA. They mean that the individuals involved can no longer hold any position in the banking industry that is federally insured.

Alongside these prohibition orders, the NCUA can also issue administrative orders. These are formal orders usually addressed to credit unions or related persons when they’ve broken laws, regulations, or ethical standards.

The NCUA often steps in when it finds violations of rules, breaches of duties, or situations that could pose risks to the financial system.

For those interested, the NCUA maintains a searchable database of all enforcement actions, including names, institutions, locations, and years. This is a useful resource for anyone looking to understand more about the NCUA’s enforcement efforts.

Additionally, the public can view these enforcement orders online or request copies by mail from the NCUA at its office in Alexandria, Virginia.