A former Iowa credit union worker was prohibited from ever again working in a federally insured financial institution after being sentenced on a charge of bank fraud, the credit union federal regulator said Wednesday.
According to the National Credit Union Administration (NCUA), Henry M. Hill, a former employee of the Greater Iowa Credit Union in Ames, was slapped with the prohibition (the only one reported by the agency for March) after he was sentenced on federal charges of bank fraud.
NCUA said Hill had pleaded guilty. The bank fraud charge, according to NCUA’s notice of prohibition, was in connection with his employment at the credit union. The sentencing was carried out Feb. 10 in U.S. District Court for the southern district of Iowa.
Under a prohibition order, an individual is prohibited from becoming an “institution affiliated party” of any insured depository institution, or otherwise participating, directly or indirectly, in the conduct of the affairs of any insured depository institution; and owning or controlling, directly or indirectly, any insured depository institution.