Fed Cracks Down on Bankers Who Target Elderly Customers

The Federal Reserve has taken action against two former bankers who embezzled funds from elderly customers. Simon Alberto Gonzalez, a former relationship banker at Regions Bank in Orlando, was fired in 2024 for stealing $203,000 from an elderly customer between August 2023 and November 2024.

Gonzalez's actions violated the law, safe and sound banking practices, and his fiduciary duties, according to the Fed. He consented to the enforcement action, which bars him from working for a bank without express approval from the Federal Reserve Board of Governors.

Ralph Mojica, a former teller at First Interstate Bank in Nampa, Idaho, was also cited for taking $33,300 from two elderly customers between July and September 2025. He embezzled an additional $8,000 from the bank before being caught and fired two weeks later.

Mojica consented to the enforcement action, which also bars him from working for a bank without express approval from the Federal Reserve Board of Governors.