Administrative Order: In the Matter of Grace Garza A.K.A. Grace Valencia

NOTICE OF PROHIBITION

WHEREAS on or about December 11, 2019, Grace Garza, a.k.a. Grace Valencia (“Garza”) was sentenced on the charges of Embezzlement, 18 U.S.C. § 657, and Aiding and Abetting, 18 U.S.C. § 2, charges to which she previously pleaded guilty, in the U.S. District Court for the Southern District of Texas, in connection with her employment at Space City Credit Union;

WHEREAS a violation of 18 U.S.C. § 657 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), Garza 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 Garza 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. 4:18CR00669-001, is made a part hereof and is incorporated herein by reference; and

ISSUED this 8^th day of January, 2020.

NATIONAL CREDIT UNION ADMINISTRATION