Credit union regulator slaps three with prohibitions

Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft.

The National Credit Union Administration (NCUA) said it has prohibited Ryan L. Baum (formerly of Northeastern Operating Engineers Federal Credit Union in Whitestone, N.Y.) and Frances McComas (formerly of West Virginia Federal Credit Union in South Charleston, W.Va.). According to NCUA, Baum was prohibited after being sentenced on a charge of petit larceny. McComas was prohibited, the agency said, after being sentenced on a charge of embezzlement.

Meanwhile, the agency said that Nefretiri Novell Mayfield consented to a prohibition order. According to the agency, Mayfield, while an employee at Founders Federal Credit Union (FCU) of Lancaster, S.C., allegedly removed $14,966 from the credit union’s teller drawer without authorization or knowledge by the institution.

A “prohibition” by NCUA or another federal financial institution regulator means the individual is prohibited from “becoming an ‘institution affiliated party’ of any insured depository institution” or otherwise participating, directly or indirectly, in the conduct of the affairs of any insured depository institution; and from owning or controlling, directly or indirectly, any insured depository institution, according to the agency.

NCUA Issues Prohibition Notices and Order (June 1, 2020)