|Subject:||Orders of Removal, Suspension, or Prohibition|
|Date of Memorandum:||06/13/1997|
|Expiration Date:|| |
|Signed By:||Smith, Roland|
|FCA Contact Person:||Holland, Tom|
|List of Attachments:||Listing of Orders|
June 13, 1997
To: Chairman, Board of Directors
Each Farm Credit Institution
The Chief Executive Officer
All Farm Credit System Institutions
From: Roland E. Smith, Director /s/
Office of Examination
Subject: Orders of Removal, Suspension, or Prohibition
This memorandum updates previous information submitted to the Farm Credit Administration (FCA) by Federal banking agencies regarding individuals who have received Orders of Removal, Suspension, or Prohibition (Orders). Any person who has been removed, suspended, or prohibited from participating in the conduct of the affairs of a depository institution insured by the Federal Deposit Insurance Corporation may not participate in any manner in the conduct of the affairs of any institution chartered under the Farm Credit Act of 1971, as amended, without prior approval by both the agency issuing the original Orders and the FCA.
Subsequent to the list of Orders distributed to Farm Credit System institutions by memorandum dated November 12, 1996, the FCA received notification of the following Orders issued by the National Credit Union Administration, the Office of Thrift Supervision, the Office of the Comptroller of the Currency, and/or the Board of Governors of the Federal Reserve System. As stated in previous communications on this subject, this is not a complete list and should not be relied upon as the only source of information about Orders. As Chairman and Chief Executive Officer of a Federal financial institution, you are responsible for being aware of all Orders issued by Federal banking agencies. You should independently verify who is precluded from serving in your institution and are encouraged to obtain copies of all Orders.