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.
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From the November-09, 2005 issue of Credit Union Times Magazine • Subscribe!
NCUA Issues Prohibition Orders
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