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Exception Tracking Spreadsheet (TicklerTrax™)
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NCUA lists June enforcement actions

The National Credit Union Administration yesterday announced it issued two prohibition orders and a cease-and-desist order in June.

  • Carolin Lopez, a former employee of 1st Bergen Federal Credit Union, Hackensack, New Jersey, agreed and consented to the issuance of a prohibition order after a finding that she misappropriated member funds totaling approximately $32,130 from the credit union through various means, including posting fictitious check deposits to her own account and using other employees’ credentials to reverse or waive fees that had been assessed on her own account.
  • Stephanie Simontacchi, a former employee of Redwood Credit Union, Santa Rosa, California, agreed and consented to the issuance of a prohibition order after a finding that, in her positions as the credit union’s senior accountant and accounting manager, she deposited checks intended for the credit union into her personal bank and credit card accounts held outside of the credit union, created fictitious journal entries and support documents, and falsified the credit union’s general ledger account., resulting in a loss to the credit union of approximately $437,000.
  • Inter-American Federal Credit Union, Brooklyn, New York, agreed and consented to the issuance of a cease-and-desist order to address certain supervisory concerns raised by the NCUA’s Eastern Regional Office.
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