Losses of nearly $400,000 caused by a check-fraud ring to Regions Bank in Memphis, Tenn., have earned a former bank worker a prohibition by the Federal Reserve, the agency said Thursday.
In a release, the Fed said Elazia Jones, a former relationship banker at the Hickory Ridge Branch of Regions Bank in Memphis had allegedly “knowingly cashed counterfeit or fraudulent checks in return for personal benefits, including cash, as part of a broader check-fraud ring that caused more than $396,000 in losses to the Bank.”
The Fed said Jones’ employment at the bank had been terminated Nov. 1, 2024. She consented to the prohibition, according to the agency.
Federal Reserve Board issues enforcement action with former employee of Regions Bank
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