The National Credit Union Administration (NCUA) has issued two consent orders and one prohibition notice this April. Three individuals are permanently banned from participating in the affairs of any federally insured depository institution.
The consent orders were issued against Anh-Thu Nguyen, a former employee of Goldenwest Federal Credit Union in Ogden, Utah, and Amber Grabill, a former employee of Merho Federal Credit Union in Johnstown, Pennsylvania. A notice of prohibition was directed at Dorothy Ellis, a former employee of St. John’s Buffalo Federal Credit Union in Buffalo, New York.
Besides Orders of Prohibition, the NCUA sometimes issues administrative orders. These are legally enforceable orders issued under Section 206 of the Federal Credit Union Act. Typically, administrative orders arise when a credit union or its affiliates violate a law, breach fiduciary duty, or practice unsafely or unsoundly.
The NCUA commonly issues three types of orders:
- An Order to Cease and Desist, requiring action or refraining from action, including making restitution.
- An Order of Prohibition, stopping an individual from working at any federally insured financial institution.
- An Order Assessing Civil Money Penalties, mandating payment of a penalty.
The public can search agency enforcement orders and notices by name, institution, city, state, and year on the NCUA’s Administrative Orders webpage. This page also links to federal enforcement actions against other institutions or affiliates.
NCUA enforcement orders are viewable online or can be ordered by mail from the NCUA at 1775 Duke Street, Alexandria, Virginia 22314-3428.
The NCUA, an independent federal agency created by Congress, regulates, charters, and supervises federal credit unions. It manages the National Credit Union Share Insurance Fund, insuring deposits of over 135 million accounts in federal credit unions and most state-chartered credit unions. The agency also focuses on consumer protection and financial literacy education.
For media inquiries, contact OEACmail@ncua.gov or 703.518.6330.