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Informational Memorandum
Subject:Orders of Removal, Suspension, or Prohibition
Date of Memorandum:08/04/2006
Expiration Date:
Signed By:Clark, Donald
FCA Contact Person:Cohn, Jennifer
Contact Phone:703-883-4028
List of Attachments:703/883-4020

[attachment "IMOrdersofRemoval.doc" deleted by Patricia Roney/OEXAM/FarmCredit]

Farm Credit Administration 1501 Farm Credit Drive


August 4, 2006

To: Chief Executive Officer
All Farm Credit System Institutions

From: Thomas G. McKenzie, Director and Chief Examiner Donald P. Clark for TGM Office of Examination

Subject: Orders of Removal, Suspension, or Prohibition

The purpose of this Informational Memorandum (IM) is to assist Farm Credit institutions in finding information about orders removing, suspending, or prohibiting persons from participating in the conduct of the affairs of a depository institution insured by the Federal Deposit Insurance Corporation (FDIC) or credit union insured by the National Credit Union Administration (NCUA). Section 904 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) Pub. L. 101-73 (Aug. 9, 1989). prohibits any person who has received an Order of Removal, Suspension, or Prohibition (Order) from participating in any manner in the conduct of the affairs of an institution chartered under the Farm Credit Act of 1971, as amended, without prior approval by both the agency issuing the original Order and the Farm Credit Administration.

By IM dated October 13, 2005, we advised institutions to refer to the Web sites of the agencies that issue the Orders to determine whether prospective or current employees have Orders issued against them. Since then, a number of institutions have requested assistance in finding this information on the various agency Web sites. Accordingly, this IM is providing specific guidance on how to find this information on those Web sites. Please be aware, however, that if the other agencies change their Web sites, this guidance may no longer be correct.

Board of Governors of the Federal Reserve System (


Office of the Comptroller of the Currency

Office of Thrift Supervision (


If you have any questions about this IM, please call or e-mail Jennifer A. Cohn, Senior Attorney, Office of General Counsel, at (703) 883-4020 or