The National Credit Union Administration issued only one prohibition order in March, barring a former credit union employee from working in the financial services sector.
Ashley Davis, a former employee of Newark Firemen Federal Credit Union in Newark, New Jersey, is permanently banned from participating, directly or indirectly, in the affairs of any insured depository institution, the regulator said Thursday. The credit union has $13 million of assets.
Davis transferred funds from various credit union member accounts into her daughter’s account, then used the funds to service her own debt and pay for her own personal expenses, the regulator said.
From February through July 2020, Davis transferred more than $99,000 from other member accounts into her daughter’s account, according to the regulator.
The NCUA, which releases prohibitions every month, made one such order in both January and February. The regulator issued a total of 21 prohibition orders in 2021.
