ALEXANDRIA, Va.–NCUA has issued a prohibition order banning one person from ever-again working in any federally insured depository institution.
The agency said Michael Viselli, the former CEO of Ingersoll-Rand FCU in Athens, Penn., 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 him.
Viselli left the credit union in March of 2018. His LinkedIn profile says he is now a business operations consultant.
The agency noted 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 agency said it also issues Notices of Prohibition, which is notification that a person has been convicted of a criminal offense involving dishonesty or breach of trust and is barred from working for a federally insured depository institution by operation of law.