The National Credit Union Administration (NCUA) has issued a prohibition order against Desiree Canepa, a former employee of Antioch Community Federal Credit Union in Antioch, California. This order permanently bans her from participating in the affairs of any federally insured depository institution.
In addition to this prohibition, the NCUA has terminated a cease and desist order against Phi Beta Sigma Federal Credit Union in Washington, D.C., after the credit union fulfilled all required terms. The termination was carried out by the NCUA Board through its Eastern Regional Director.
The NCUA issues administrative orders under Section 206 of the Federal Credit Union Act when it determines that a credit union or affiliated individuals have violated laws or regulations, breached fiduciary duties, or engaged in unsafe practices. These orders can include directives to cease and desist, prohibitions on employment within federally insured institutions, and assessments of civil money penalties.
Information on agency enforcement orders is available on the NCUA’s Administrative Orders webpage. The public can search for orders by name, institution, city, state, and year. Copies are also available by mail from the NCUA's office in Alexandria, Virginia.
The NCUA is an independent federal agency responsible for regulating and supervising federal credit unions. It manages the National Credit Union Share Insurance Fund with support from the U.S. government, insuring deposits for over 135 million account holders across federal and most state-chartered credit unions. The agency also focuses on consumer protection and financial literacy education.
For media inquiries: OEACmail@ncua.gov or call 703-518-6330.