July 01, 2020

NCUA bans 1 from future work in FIs

NCUAThe NCUA in June issued one prohibition order, prohibiting an individual previously associated with a credit union from any future participation in the affairs of a federally-insured financial institution.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. Details from last month's prohibition order follow:

  • Paul Aimone, a former employee of Midwest Carpenters & Millwrights in Hobart, Ind., 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.

NCUA enforcement orders are available via a searchable database online. Enforcement actions of federal banking agencies against other institutions or their affiliated parties may also be viewed via the administrative orders webpage.