ALEXANDRIA, Va. (3/29/12)--The National Credit Union Administration (NCUA) has prohibited former District Government Employees FCU, Washington, D.C., board and supervisory committee member James Talbert from participating in the affairs of any federally insured financial institution.
District Government Employees FCU is also known as DC FCU.
The prohibition order is the result of an NCUA investigation which followed last year's release of the examination records and CAMEL rating of DC FCU. Those records were leaked to the press last fall, weeks after DC FCU CEO Carla León-Decker was nominated to join the NCUA board by President Barack Obama. León-Decker earlier this year removed her name from consideration for the NCUA post.
NCUA Chairman Debbie Matz asked for a full investigation "to determine which among the parties with access to the confidential examination information, whether NCUA or the credit union's board or management," released the credit union's exam records and CAMEL rating.
The NCUA investigation found that Talbert "had breached his fiduciary duties" by unlawfully disclosing the exam records and CAMEL code information. Talbert consented to the issuance of a prohibition order to avoid the time, cost, and expense of administrative litigation, the NCUA said.
Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.