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Former Oklahoma cashier gets prohibition order

Commerce, OK
12/13/2017
Fine Amount: 
Order of prohibition
Penalty Type: 
Issued by: 

The Federal Reserve Board has issued a Consent Order of Prohibition to Angela Asbell, a former cashier of First State Bank, Commerce, Oklahoma, having found that, between November 2015 and Asbell’s termination in February 2017, while employed as a cashier at the Bank—

  • Asbell permitted a bank customer to deposit checks and withdraw the associated funds without any hold for the checks to clear, resulting in the bank customer overdrawing his account by approximately $1,220,000
  • Asbell worked as a bookkeeper for the bank customer and, in violation of bank policy, transferred money from the bank customer’s account
    to her checking account at the bank on at least ten occasions, in an amount totaling approximately $6,400
  • Asbell issued a money order drawn on her checking account in an amount greater than her account balance, and failed to take the steps necessary to have the money withdrawn from her account until approximately one month later.
  • Asbell initiated multiple wire transfers on behalf of Bank customers without completing the procedures necessary to have the wired funds promptly debited from the customers’ accounts.
  • Asbell repeatedly reversed the debiting of automatic monthly ACH transfers from her checking account in an apparent attempt to avoid carrying a negative balance.

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