NCUA issues lifetime ban for embezzlement

By Jackie Stewart October 30, 2020, 11:22 a.m. EDT 1 Min Read

The National Credit Union Administration barred just one person from working in financial services in October.

The agency said on Friday that it issued a prohibition notice against Schantol Collins, a former employee of the $129 million-asset Members Exchange Credit Union in Ridgeland, Miss. Collins pleaded guilty to embezzlement in the Circuit Court of Rankin County in Mississippi and was sentenced in January, according to the prohibition order.

The prohibition order did not provide more details on the charges.

In September, the regulator barred a former teller from working at any financial institution after she was accused of stealing more than $19,000.

NCUA, which releases news about its prohibition orders each month, has issued about 30 so far this year, and is on track for its fewest bans in more than five years.

Executive Editor, American Banker Magazine

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Financial crimes

Crime and misconduct

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