Fed bars former bank employee over misappropriation of customer, bank funds

A former personal banker who worked at a Phoenix, Ariz., branch of BBVA USA (Birmingham, Ala.) has been prohibited from participating in the affairs of any federally insured financial institution under a consent order announced Thursday by the Federal Reserve Board.

The order, dated May 28, states that Jennifer Bradford worked at the bank’s Union Hills branch from July 13, 2020, until she was terminated Oct. 23, 2020. Bradford reportedly misappropriated $3,495.71 from a customer’s account for her personal gain; the bank also later found that Bradford’s teller drawer was missing $13,210, with at least some of that amount misappropriated by Bradford for her personal gain. The order states that Bradford repaid the bank $10,200 in the month following her termination but that the bank suffered a loss of at least $3,495.71 and was exposed to legal and reputational risks.

Federal Reserve Board issues enforcement action with former employee of BBVA USA

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