The National Credit Union Administration has issued two prohibition orders and one prohibition notice for March.
The persons involved in the actions are barred from working within the industry, the regulator said on Wednesday.
Jennifer N. Zanassi, former CEO of Western Heritage Federal Credit Union in Alliance, Neb., and Melissa M. Mosher, former director of branch operations for Western Heritage, both agreed to prohibition orders.
NCUA said Zanassi violated regulations when she applied for two trouble debt restructurings for an existing used car loan and then eventually defaulted on both. She also approved a TDR for a used auto loan with terms that weren’t available to other members for “another manager” at Western Heritage, NCUA said.
The other manager wasn’t named in Zanassi’s administrative order. But NCUA said in a separate administrative order that Mosher also violated regulations by receiving a TDR for an auto loan. She received roughly $5,700, and the terms of the TDR included a 2.002% APR for 13.5 years, according to NCUA. Those loan terms were not available to other members.
Stephanie Joyce-Benne Beauford was sentenced in February for committing “embezzlement from a vulnerable adult” while working at Michigan First Credit Union in Lathrup Village, Mich., according to NCUA. She was sentenced in the state’s Third Judicial Circuit Court for Wayne County.
