Administrative Order: In the Matter of Benjamin Tyler Severson

NOTICE OF PROHIBITION

WHEREAS on or about February 14, 2019, Benjamin Tyler Severson (“Severson”) was sentenced on one count of Misappropriation of ID Info – Obtain Money, Wis. Stat. § 943.201(2)(a), a charge to which he previously pleaded no contest, in the State of Wisconsin’s 7th Judicial District, in connection with his employment at Marine Credit Union;

WHEREAS a violation of Wis. Stat. § 943.201(2)(a) is a criminal offense involving dishonesty and breach of trust;                 

NOW, THEREFORE, YOU ARE HEREBY NOTIFIED THAT:

1. Pursuant to 12 U.S. C. § 1785(d)(1)(A) and 12 U.S.C.  § 1829(a)(1)(A), Severson is prohibited from becoming an “institution affiliated party” of any insured depository institution, as defined in 12 U.S.C. § 1786(r); otherwise participating, directly or indirectly, in the conduct of the affairs of any insured depository institution; and owning or controlling, directly or indirectly, any insured depository institution;
2. Pursuant to 12 U.S. C. § 1785(d)(1)(B) and 12 U.S.C. § 1829(a)(1)(B), no insured depository institution may permit Severson to engage in any conduct or continue in any relationship prohibited in paragraph 1 above;
3. Pursuant to 12 U.S.C. § 1785(d)(3) and 12 U.S.C. § 1829(b), whoever knowingly violates paragraph 1 or 2 above is subject to a fine of not more than $1 million for each day such prohibition is violated, or imprisonment for not more than five (5) years, or both;
4. The Wisconsin Circuit Court Access document, “Monroe County Case Number 2018CF000587 State of Wisconsin vs. Benjamin Tyler Severson” (District Court Case No. 2018MO001806), is made a part hereof and is incorporated herein by reference; and

ISSUED this 11th day of July, 2019.

NATIONAL CREDIT UNION ADMINISTRATION