ALEXANDRIA, Va. (Sept. 30, 2021) – The National Credit Union Administration issued two prohibition orders and two notices of prohibition in September. These individuals are prohibited from participating in the affairs of any federally insured financial institution.
Prohibition Orders
- Johnnie Earl Harrell, Jr., a former employee of Welcome Federal Credit Union in Morrisville, North Carolina, 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.
- Stacey Shaw, a former employee of IBEW Local Union 712 Federal Credit Union in Beaver, Pennsylvania, 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.
Notices of Prohibition
- Jonathan Sanchez-Santiago, a former employee of Guardians Credit Union in West Palm Beach, Florida, was sentenced in the Circuit Court of the Fifteenth Judicial Circuit of Palm Beach County on charges of grand theft in connection with his employment at the credit union.
- Trevon Gross, a former employee of Helping Other People Excel Federal Credit Union in Jackson, New Jersey, was sentenced in U.S. District Court for the Southern District of New York on charges of conspiracy to commit financial institution briery, making false statements, obstructing the examination of a financial institution, and receiving corrupt payments as an officer of a financial institution with intent to be influenced, all in connection with his 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 or Notice of Prohibition, which prohibits a party from ever working for a federally insured financial institution; and
- An Order Assessing Civil Money Penalties.
Prohibition and administrative orders 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.