WASHINGTON - A former assistant vice president of Lone Star National Bank in Pharr, Tex, has been banned indefinitely by federal regulators from involvement in a financial institution.
In an enforcement action against Carolyn D. Nelson, the Federal Reserve Board said that between 1997 and 1999 she withdrew more than $40,000 from the accounts of three customers without their consent and used the funds for her own benefit. The Sept. 29 order was made public Friday.
Lone Star has $238 million of assets.
