NCUA issues two prohibition orders
ALEXANDRIA, VA (November 30, 2021) — The National Credit Union Administration issued two prohibition orders in November. These individuals are prohibited from participating in the affairs of any federally insured financial institution.
- Hector Andres Aleman, a former employee of Pima Federal Credit Union in Tucson, Arizona, 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.
- Elizabeth Ann Oliver, a former employee of Lancaster Red Rose Credit Union in Leola, 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.
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
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
