WASHINGTON - The Federal Reserve Board this week took enforcement actions against two individuals and a bank.
The Fed permanently banned John "Bud" Harlow Jr. from ever working as an appraiser for a bank. The Fed, as well as the Federal Deposit Insurance Corp. and the Comptroller of the Currency, charged Mr. Harlow violated safety and soundness rules by preparing faulty appraisals.
Mr. Harlow, who settled the case without admitting wrongdoing, worked for Midland Bank of Kansas in Mission, Kan., Midland Bank in Kansas City, Kan., and College Boulevard National Bank in Overland, Kan.
The Fed also permanently banned from banking Ernest Vickers III, a former officer and director of First National Bancshares Corp., of Jackson, Tenn. The central charged that Mr. Vickers engaged in improper lending practices.
Finally, the Fed entered into a written agreement with United Bank Limited of Karachi, Pakistan, and its New York branch.
The bank agreed to hire an outside consultant to review the branch's management. Also, the bank agreed to develop an audit plan for the branch.