Former Regions Bank official barred and assessed $100,000 CMP

The Federal Reserve Board has issued an Order of Prohibition and Assessment of Civil Money Penalty barring Thomas A. Neely, Jr., former Executive Vice-President and Business Services Credit Executive of Regions Bank, Birmingham, Alabama, from participating in the affairs of any insured depository institution and ordered him to pay a civil penalty of $100,000 to settle administrative charges he breached his fiduciary duties. Those charges were brought against Neely by the Board in June 2014, in which it was alleged that Neely "engaged in unsafe and unsound practices, breaches of fiduciary duty, and violations of law related to his involvement in the Bank’s reporting of certain nonaccrual loans as accruing, performing loans for the first quarter of 2009 including removing certain loans from nonaccrual status in March 2009; and knowingly providing false and misleading information and concealing material information to federal and state bank examiners in connection with the targeted examination conducted by the Federal Reserve Bank of Atlanta in May 2009."