ALEXANDRIA, Va.-NCUA has issued orders of prohibition against three former credit union officials. Former Technology Credit Union (San Jose, Calif.) employee Mary Helen Melendez; former Vernon Commerce Credit Union (Commerce, Calif.) CEO Isaac Barrocas; and former San Mateo Credit Union (Redwood City, Calif.) employee Kirby Dela Cruz all agreed, without admitting or denying fault, to prohibition orders barring them from participating in the business of any federally insured institution to avoid litigation. Violation of a prohibition order is a felony punishable by imprisonment and a fine of up to $1 million.
NCUA Issues Prohibition Orders
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!