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Former Maryland director prohibited from banking

Rising Sun, MD
12/13/2017
Fine Amount: 
Order of prohibition
Penalty Type: 
Issued by: 

The Federal Reserve Board has issued a Consent Order of Prohibition to Lowell W. McCoy, a former director of NBRS Financial, Rising Sun, Maryland, a former state member bank, having found that McCoy, while a member of the board of directors of NBRS, engaged in unsafe or unsound banking practices and breaches of fiduciary duty by obtaining loans from NBRS through a third party borrower in order to circumvent applicable lending limits and by failing to disclose the true purpose of the loans.

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