ALEXANDRIA, Va. (Nov. 30, 2018) – The National Credit Union Administration issued one prohibition notice and one prohibition order in November. These individuals are prohibited from participating in the affairs of any federally insured financial institution.
- Michelle Cain, a former employee of Business and Industrial Federal Credit Union in Columbus, Indiana, pleaded guilty to the charge of theft. Cain was sentenced to one year in prison, two years’ supervised release, and was ordered to pay $466,122.27 in restitution.
- Mitchell Reiver, a former employee or institution-affiliated party of Melrose Credit Union in Briarwood, New York, agreed and consented to the issuance of a prohibition order and agreed to comply with all of its terms to settle and resolve the NCUA Board’s claims against him.
Prohibition and administrative orders are searchable by name, institution, city, state, and year at the NCUA’s Administrative Orders webpage. The webpage also provides links to the enforcement actions of federal banking agencies against other institutions or their affiliated parties.
You may view NCUA enforcement orders online or inspect them at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Eastern, Monday through Friday. You also may order copies by mail from NCUA at 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 account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.