ALEXANDRIA, Va.--NCUA issued one prohibition order in May, the agency announced.
The individual named below is permanently prohibited from participating in the affairs of any federally insured depository institution.
Notice of Prohibition:
- Desiree Canepa, a former employee of Antioch Community Federal Credit Union, Antioch, Calif.
Also, the NCUA terminated the following cease and desist order after the credit union fulfilled the terms and requirements, and the NCUA board, through its Eastern Regional Director, terminated the order.
- Phi Beta Sigma Federal Credit Union, Washington
The NCUA, on occasion, issues administrative orders, which are formal, legally enforceable orders issued pursuant to Section 206 of the Federal Credit Union Act. Generally, the NCUA issues administrative orders when it finds that a credit union — or persons affiliated with a credit union — have violated a law, rule, or regulation; breached a fiduciary duty; or engaged in an unsafe or unsound practice, the agency explained.