Federal Reserve Bars Three Former Employees from Banking Industry
The Federal Reserve Board has barred three former employees from participating in the affairs of insured depository institutions and their holding companies. The board's release announced the execution of consent prohibition orders against Charles Alan Wright, Stephanie K. Hudders, and Elvisha White for misconduct during their employment at Northstar Bank, American Express Travel Related Services Company, Inc., and Regions Bank.
The board characterized the Wright matter as misappropriation of customer funds, while Hudders' actions were deemed misapplication of funds and conflicts of interest. White was found to have knowingly cashed counterfeit or fraudulent checks in return for personal benefits.
The orders prohibit each respondent from participating in the conduct of insured depository institutions and their holding companies without prior written approval. The prohibitions also cover soliciting, procuring, transferring, attempting to transfer, voting or attempting to vote any proxy, consent or authorization with respect to any voting rights in such institutions.