Administrative Order: In the Matter of Kevin Biederman

NOTICE OF PROHIBITION

WHEREAS on or about September 4, 2019, Kevin Biederman, (“Biederman”) was sentenced on the charges of Conspiracy to Commit Money Laudering, 18 U.S.C. § 1956(h), and Bank Bribery, 18 U.S.C. § 215(a)(2), in the United States District Court for the Eastern District of Pennsylvania, in connection with his employment at Philadelphia Federal Credit Union;

WHEREAS violations of 18 U.S.C. §§ 1956(h) and 215(a)(2) are criminal offenses 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), Biederman 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 Biederman 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 “Judgment in a Criminal Case” document, Case No. DPAE2:16CR000509-004, is made a part hereof and is incorporated herein by reference; and

ISSUED this 24^th day of September, 2019.

NATIONAL CREDIT UNION ADMINISTRATION