ALEXANDRIA, Va. –NCUA issued one prohibition order in August, prohibiting the person from participating in the affairs of any federally insured depository institution.
Issued the prohibition order was Annie Cruz, the former assistant manager at P.N.G. Northern FCU in Vandergrift, Penn., who has 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.
Cruz’s LinkedIn profile indicates she had been with the credit union for a decade. The $2.3-million P.N.G. Northern FCU has approximately 450 members.
Administrative orders are formal enforcement orders issued by the NCUA pursuant to Section 206 of the Federal Credit Union Act. Generally, the agency said, it 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.
Types of Orders
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 of Prohibition, which prohibits a party from ever working for a federally insured depository institution; and
- An Order Assessing Civil Money Penalties.
Agency enforcement orders and notices are searchable by name, institution, city, state, and year at the NCUA’s Administrative Orders webpage.