The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.
Monica Jackson, a former employee of Koin Credit Union in Brentwood, Tennessee, is subject to a consent order. Autumn S. Smith, a former employee of SecurityPlus Federal Credit Union in Baltimore, Maryland, is under a notice of prohibition.
An Order of Prohibition prevents an individual from ever working for a federally insured depository institution.
In addition to Orders of Prohibition, the NCUA sometimes issues administrative orders. These formal, legally enforceable orders are issued under Section 206 of the Federal Credit Union Act when it finds that a credit union or its affiliates have violated laws or regulations, breached fiduciary duties, or engaged in unsafe practices.
The three most common orders issued by the NCUA include:
– An Order to Cease and Desist: Requires action or refraining from action by an institution or individual.
– An Order of Prohibition: Prevents an individual from working for any federally insured financial institution.
– An Order Assessing Civil Money Penalties: Requires payment of assessed penalties by an institution or individual.
Agency enforcement orders and notices can be searched 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 their affiliated parties.
Public access to NCUA enforcement orders is available online or via mail request at 1775 Duke Street, Alexandria, Virginia 22314-3428.
The NCUA is an independent federal agency created by Congress to regulate and supervise federal credit unions. It manages the National Credit Union Share Insurance Fund which insures deposits for over 135 million account holders in all federal credit unions and most state-chartered credit unions. The agency also focuses on consumer protection and financial literacy education.
Media Inquiries
Joe Adamoli
JAdamoli@ncua.gov
703.518.6572
