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NCUA Bars Former DC FCU Board Member

Prohibition Order Results from NCUA Investigation into Unlawful Release of Confidential Examination Records and CAMEL Rating

ALEXANDRIA, Va. (March 28, 2012) – The National Credit Union Administration (NCUA) has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution:

  • James M. Talbert, a former board and supervisory committee member of District Government Employees Federal Credit Union, Washington, D.C., which does business as DC Federal Credit Union.

The prohibition order results from the unlawful disclosure of DC Federal Credit Union’s confidential examination records and CAMEL rating. Last November, NCUA Board Chairman Debbie Matz asked for a full investigation “to determine which among the parties with access to the confidential examination information, whether NCUA or the credit union’s board or management, took this illegal action.”

After investigating, NCUA determined that Mr. Talbert had breached his fiduciary duties in connection with his position at DC Federal Credit Union by unlawfully disclosing non-public information. Mr. Talbert consented to the issuance of a prohibition order to avoid the time, cost, and expense of administrative litigation.

NCUA enforcement orders are online at http://go.usa.gov/Plq and you may inspect them at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. You may order copies by mail from NCUA, 1775 Duke St., Alexandria, Va. 22314-3428.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.



NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"