UNITED STATES OF AMERICA
NATIONAL CREDIT UNION ADMINISTRATION
NATIONAL CREDIT UNION ADMINISTRATION BOARD
____________________________________
IN THE MATTER OF )
)
Patsy Gatson
)
Former Manager of )
DOCKET NO. 01-0603-V
Common Ground Community )
Federal Credit Union, )
Dallas, Texas
)
____________________________________)
ORDER OF PROHIBITION
WHEREAS, Patsy Gatson, former manager of Common
Ground Community Federal Credit Union (“Credit Union”), is an “institution-affiliated
party” participating in the affairs of said credit union; and
WHEREAS, Patsy Gatson 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, Patsy Gatson has stipulated and consented
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 Nation Credit Union Administration
Rules and Regulations, 12 C.F.R. § 747.0.
NOW, THEREFORE, IT IS ORDERED THAT:
1.
Patsy Gatson is prohibited from further participation, in any
manner, in the conduct of the affairs of any federally insured credit
union and any other institution as defined in Section 206(g)(7) of the
Federal Credit Union Act, 12 U.S.C. § 1786(g)(7).
2.
The Stipulation and Consent to Issuance of this Order of Prohibition
is made a part hereof and is incorporated herein by reference.
This Order of Prohibition shall become effective on the
date it is issued.
NATIONAL CREDIT UNION ADMINISTRATION BOARD
BY: Donald Klein
for Jane Walters, Regional Director
National Credit Union Administration, Region
V
DATE: July 10, 2001
UNITED STATES OF AMERICA
NATIONAL CREDIT UNION ADMINISTRATION
NATIONAL CREDIT UNION ADMINISTRATION BOARD
____________________________________
IN THE MATTER OF )
)
Patsy Gatson
)
Former Manager of )
DOCKET NO. 01-0603-V
Common Ground Community )
Federal Credit Union, )
Dallas, Texas
)
____________________________________)
STIPULATION AND CONSENT TO ISSUANCE
OF AN ORDER OF PROHIBITION
The National Credit Union Administration Board (“NCUA
BOARD”), by and through its undersigned counsel, and Patsy Gatson, former
manager of Common Ground Community Federal Credit Union, Dallas, Texas
hereby stipulate and agree as follows:
1.
Consideration. The National Credit Union Administration
(“NCUA”) is of the opinion that grounds exist to initiate an administrative
prohibition against Patsy Gatson, pursuant to Section 206 of the Federal
Credit Union Act, 12 U.S.C. §1786. Patsy Gatson without admitting
or denying 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, Patsy Gatson consents to the issuance by
the NCUA Board of an Order of Prohibition (“Order”) and hereby stipulates
and agrees to the following terms in consideration of the settlement,
compromise and resolution of all potential administrative claims and
charges that have been or might be asserted by the NCUA Board against
Patsy Gatson arising out of her position as manager of Common Ground
Community Federal Credit Union.
2. Jurisdiction.
(a) Patsy Gatson 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) Pursuant to the authority vested in the NCUA Board 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 an “institution-affiliated party”. Therefore, Patsy Gatson
is subject to the authority of the National Credit Union Administration
to initiate and maintain prohibition proceedings against her.
3. Consent. Patsy Gatson consents to the issuance by the
NCUA Board of the accompanying Order of Prohibition. She further
agrees to comply with its terms upon issuance and stipulates that
the Order complies with all requirements of the Federal Credit Union
Act.
4. Waivers. Patsy Gatson waives her 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). She further waives her right to seek
judicial review of the Order of Prohibition or to 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
Patsy Gatson as provided by paragraph 1 of this Stipulation. The
Stipulation, however, does not release, discharge, compromise, settle,
resolve or in any way effect any actions, claims, charges against,
or liabilities that arise and that may be or have been brought by
Common Ground Community Federal Credit Union, or any 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 the Federal Credit Union Act, 12 U.S.C. §1786(g).
Upon its issuance by the NCUA Board, it shall be a final Order, immediately
effective and fully enforceable by the National Credit Union Administration.
WHEREFORE, in consideration of the foregoing, the undersigned
counsel on behalf of the National Credit Union Administration and Patsy
Gatson execute this Stipulation and Consent to Issuance of an Order
of Prohibition.
By: ________/s/__________________________
__6/22/01_______
Kathy Sachen-Gute, Trial Attorney
Date
Office of General Counsel
_____/s/_____________________________
_____6/13/01____
Pasty Gatson
Date
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