In the Matter of
Jerome Johnson,
Manager of Tuskegee
|
Docket No.: 99-02-01 III |
WHEREAS, Jerome Johnson has executed a Stipulation and Consent to Issuance of an Order of Prohibition, which is accepted and approved by the National Credit Union Administration acting through its counsel; and
WHEREAS, Jerome Johnson in the Stipulation has consented and
agreed to the issuance of this Order of Prohibition pursuant to
Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g),
and Part 747 of the National Credit Union Administration Rules
and Regulations.
NOW THEREFORE, IT IS ORDERED THAT:
1. Jerome Johnson is an institution-affiliated party in that he is the manager of Tuskegee Federal Credit Union.
2. The Stipulation and Consent to the Issuance of this Order of Prohibition is made a part hereof and is incorporated herein by reference.
3. Jerome Johnson is prohibited from participating in any manner in the conduct of the affairs of any federally insured credit union and any other institution as defined in 12 U.S.C. §1786(g)(7).
4. This Order of Prohibition shall be effective on the date it
is issued.
NATIONAL CREDIT UNION ADMINISTRATION BOARD
By: ______________________________
ALONZO SWANN III
Date: _______________
In the Matter of
Jerome Johnson,
Manager of Tuskegee
|
Docket No.: 99-02-01 III |
The National Credit Union Administration Board ("NCUA Board"),
by and through its undersigned counsel, and Jerome Johnson a manager
of Tuskegee Federal Credit Union, Tuskegee, Alabama, hereby stipulate
and agree as follows:
1. Consideration. The National Credit Union Administration is of the opinion that grounds exist to initiate an administrative prohibition against Jerome Johnson pursuant to Section 206 of the Federal Credit Union Act, 12 U.S.C. §1786. Jerome Johnson, without admitting that said grounds exist (except those set forth as to Jurisdiction in paragraph 2), desires to avoid the time, cost and expense of administrative litigation. Accordingly, Jerome Johnson consents to the issuance by NCUA Board of an Order of Prohibition ("Order") and hereby stipulates and agrees to the following terms:
2. Jurisdiction.
(a) Jerome Johnson is an "institution-affiliated party" within the meaning of Section 206(r) of the Federal Credit Union Act, 12 U.S.C. §1786(r). (b) vested in the Board of the National Credit Union Administration under Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g), and Part 747 of the National Credit Union Administration Rules and Regulations, it is an appropriate Federal agency to maintain enforcement proceedings against such institution-affiliated party. Therefore, Jerome Johnson is subject to the authority of the National Credit Union Administration to initiate and maintain prohibition proceedings against him.
3. Consent. Jerome Johnson consents to the issuance by the National Credit Union Administration Board of the accompanying Order of Prohibition. He further agrees to comply with its terms upon issuance and stipulates that the Order complies with all requirements of the law.
4. Waivers. Jerome Johnson waives his right to the administrative hearing provided for in Section 206(g)(4) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(4). He further waives his right to seek judicial review of the Order of Prohibition or otherwise challenge the validity or legality of the Order.
5. Other Actions. Pursuant to this Stipulation, the Order settles and resolves any NCUA Board claims, known and unknown, against Jerome Johnson as provided by paragraph 1 of this Stipulation. The Stipulation, however, does not release, discharge, compromise, settle, dismiss, resolve, or in any way effect any actions, claims, charges against, or liabilities that arise and that may be or have been brought by Tuskegee Federal Credit Union, or any other federal or state government agency or entity other than the NCUA Board.
6. Finality. The Order of Prohibition is issued pursuant
to Section 206(g) of Federal Credit Union Act, 12 U.S.C. §1786(g).
Upon its issuance by the National Credit Union Administration
Board, it shall be a final Order, effective and fully enforceable
by the National Credit Union Administration.
WHEREFORE, in consideration of the foregoing the undersigned,
on behalf of the National Credit Union Administration, and Jerome
Johnson execute this Stipulation and Consent to Issuance of Order
of Prohibition.
NATIONAL CREDIT UNION ADMINISTRATION
By: __________________________ ____________________
Margaret E. McPartlin Date
Trial Attorney
Office of General Counsel
__________________________ ____________________
Jerome Johnson Date