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.