ORDER OF ASSESSMENT OF CIVIL MONEY PENALTY
WHEREAS, Phi Beta Sigma Federal Credit Union, Washington, DC, executed a Stipulation and Consent to Issuance of an Order of Assessment of Civil Money Penalty (“Stipulation”), and agreed and consented to the issuance of this Order of Assessment of Civil Money Penalty (“Order”), pursuant to Section 202(a)(3) of the Federal Credit Union Act (“FCUA”), 12 U.S.C. § 1782(a)(3); and
WHEREAS, pursuant to the FCUA, the National Credit Union Administration Board (“NCUA”) has authority to issue a final Order where the Respondent consents to the issuance of such an Order.
NOW THEREFORE, IT IS ORDERED that within ten (10) calendar days of receipt of this Order, Phi Beta Sigma Federal Credit Union shall pay the sum of $150.00 by making payment to the NCUA via the www.Pay.Gov (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) website.
FURTHERMORE, all technical words or terms used in this Order have meanings defined in the FCUA, the NCUA’s Rules and Regulations, Title 12 of the United States Code, and any such words or terms undefined in the foregoing have meanings that accord with the best customs and usage in the credit union industry.
FURTHERMORE, this Order against Phi Beta Sigma Federal Credit Union incorporates the referenced Stipulation, and the Order is effective upon its issuance.
NATIONAL CREDIT UNION ADMINISTRATION BOARD
Director, Office of Examination and Insurance