ALEXANDRIA, Va. (April 29, 2022) – The National Credit Union Administration issued two prohibition orders and one notice of prohibition in April. These individuals are prohibited from participating in the affairs of any federally insured depository institution.
Order of Prohibition:
- Mark Colley, a former employee of First Oklahoma Federal Credit Union, Tulsa, Oklahoma, agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claim against him.
- Barbara Diane Nelson, a former employee of Gerber Federal Credit Union, Fremont, Michigan, agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claim against her.
Notice of Prohibition:
- Indira Mohabir, a former employee of Western Federal Credit Union, Torrance, California, was sentenced in U.S. District Court, Central District of California, on several charges of financial institution fraud in connection with her employment at the credit union.
Administrative orders are formal enforcement orders issued by the NCUA 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:
- An Order to Cease and Desist, which requires a party to take action (or refrain from taking action), including making restitution;
- An Order of Prohibition, which prohibits a party from ever working for a federally insured depository institution; and
- An Order Assessing Civil Money Penalties.
NCUA also issues Notices of Prohibition, which is a notification that a person has been convicted of a criminal offense involving dishonesty or breach of trust and is barred from working for a federally insured depository institution by operation of law.
Agency enforcement orders and notices are searchable by name, institution, city, state, and year at 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.