Banned CU Manager Seeks NCUAPardon

Register now

ALEXANDRIA, Va. - (09/15/04) -- The former manager of JessopEmployees FCU, banned from the credit union industry in 1999 forher role in a travel voucher scam, has petitioned NCUA to overturnher banning order, which would allow her to get a job with a creditunion or bank. "I pray you will be forgiving of our mistakes andgrant us a pardon," said Patricia Watson, in her request for anunprecedented overturning of her NCUA prohibition. NCUA told Watsonin a new legal opinion letter, she must undergo NCUA review of heractivities since the banning order, including proof she has beenrehabilitated, and must identify any institution she hopes to workfor. Watson was among 11 individuals, including nine of theWashington, Pa., credit union's 11 directors, who were banned fromthe industry for obtaining thousands of dollars from the creditunion through phony travel vouchers. NCUA took over the creditunion for a year after CUNA Mutual revoked its fidelity bondbecause of the widespread involvement of management and the boardin the scheme.

For reprint and licensing requests for this article, click here.