Fed issues prohibition order to former Texas bank lender

The Federal Reserve Board of Governors has issued an Order of Prohibition against Chad Dingler, a former assistant vice president and loan officer of Citizens State Bank, Tyler, Texas, having found that, between 2015 and 2018, Dingler instructed staff to execute approximately 62 unauthorized cash advances for 22 revolving credit line customers and to provide the proceeds directly to him, then misappropriated the funds for his own use, causing the bank to suffer a loss of $41,833 (later reimbursed) plus legal and reputational risks.