ALEXANDRIA, Va.– NCUA issued two consent-based prohibition orders in August, the agency announced.
The individuals are permanently prohibited from participating in the affairs of any federally insured depository institution.
Orders of prohibition were issued to:
- Jennifer Tatman, former employee of Allied Plastics Federal Credit Union, which has now merged with GP Louisiana Federal Credit Union, Zachary, Louisiana, 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 claims against her.
- Michele Spanbauer, former employee of Oshkosh Postal Employees Credit Union, which has now merged with Community First Credit Union, Oshkosh, Wis., 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 claims against her.
An Order of Prohibition prohibits a party from ever working for a federally insured depository institution.
In addition to Orders of Prohibition, the NCUA noted that on occasion it issues administrative orders, which are formal, legally enforceable orders issued 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.