The Federal Reserve Board has banned from banking a former senior official with Jefferson Bank and Trust of Lakewood, Colo.
Steen Ronlov cannot help operate any bank, vote as a shareholder of a bank, or serve on any bank board without the Fed's prior approval.
The Fed charged that Mr. Ronlov misused funds entrusted to him as an investment adviser with Jefferson Bank and Trust, a now-defunct state- chartered bank. Mr. Ronlov agreed to the order without admitting any wrongdoing.
The Fed also said that it has released three institutions from enforcement actions. They are: Civic Bank of Commerce, Oakland, Calif.; Guaranty Bancshares, Shamokin, Pa., and Carney Bank, Boynton Beach, Fla.