| In the Matter of
KATHLEEN J. DAVIS, Former Employee of
|
Docket No. 99-1103-I |
ORDER OF PROHIBITION
WHEREAS, Kathleen J. Davis ("Davis") executed a Stipulation and Consent to Issuance of an
Order of Prohibition ("Stipulation"), and agreed and consented to the issuance of this Order of
Prohibition ("Order"), pursuant to Section 206(g) of the Federal Credit Union Act ("FCUA"),
12 U.S.C. § 1786(g), and Part 747 of the National Credit Union Administration Rules and
Regulations ("Rules"), 12 C.F.R.§ 747, et seq.; and
WHEREAS, pursuant to the FCUA and the Rules, the National Credit Union Administration
Board ("NCUAB") has authority to issue a final Order where the Respondent consents to the
issuance of such an Order.
NOW THEREFORE, the NCUAB issues this Order and prohibits Davis from participating in
any manner in the conduct of the affairs of any federally insured credit union, and from continuing or
commencing to hold any office, or participate in any manner, in the conduct of the affairs of any
other institution or agency set forth in Section 206(g)(7) of the FCUA, 12 U.S.C. § 1786(g)(7).
FURTHERMORE, all technical words or terms used in this Order have meanings defined in
the FCUA, the Rules, Title 12 of the United States Code, and any such words or terms undefined in
the foregoing have meanings that accord with the best customs and usage in the credit union
industry.
FURTHERMORE, this Order against Kathleen J. Davis incorporates by reference the
Stipulation she executed, and is effective
upon its issuance.
NATIONAL CREDIT UNION ADMINISTRATION
BOARD
By:
____________/S/_____________________
Anthony J. LaCreta, Acting Regional Director
Dated: November 30, 1999
| In the Matter of
KATHLEEN J. DAVIS, Former Employee of
|
Docket No. 99-1103-I |
STIPULATION AND CONSENT
TO ISSUANCE OF AN ORDER OF PROHIBITION
Kathleen J. Davis ("Davis"), former employee of Genesee Co-op Federal Credit Union,
Rochester, New York ("Genesee"), and the National Credit Union Administration Board
("NCUAB"), acting by and through its Counsel, hereby make this Stipulation and Consent to
Issuance of an Order of Prohibition ("Stipulation").
Davis and the NCUAB hereby stipulate and agree as follows:
1. Consideration. The NCUAB is of the opinion that grounds exist to initiate an
administrative prohibition action against Davis pursuant to Section 206(g) of the Federal Credit
Union Act ("FCUA"), 12 U.S.C. § 1786(g). Davis, 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, Davis consents to the issuance by NCUAB of an
Order of Prohibition ("Order") in consideration of the settlement, compromise and resolution of all
potential administrative claims and charges that have been or might be asserted by NCUAB against
Davis arising out of her position with Genesee.
2. Jurisdiction. Pursuant to its authority under Section 206 of the FCUA, 12 U.S.C.
§ 1786, the NCUAB is the appropriate Federal agency to maintain an administrative action against
an "institution-affiliated party." Davis is an "institution-affiliated party" within the meaning of
Section 206(r) of the FCUA, 12 U.S.C. § 1786(r). Accordingly, Davis admits the jurisdiction of
the NCUAB over her and over the subject matter of this action
3. Finality. Davis consents to the issuance of the Order, and agrees to comply with all of its
terms. The Order complies with all requirements of law, and issues pursuant to Section 206 of the
FCUA, 12 U.S.C. § 1786. Upon its issuance, the Order is final, effective and fully enforceable by
the NCUAB. The laws of the United States of America govern the construction and validity of this
Stipulation and the Order, and the section and paragraph headings do not affect the interpretation of
this Stipulation or the Order.
4. Waivers. Davis waives her right to an administrative hearing provided by Section
206(g)(4) of the FCUA, 12 U.S.C. § 1786(g)(4). Davis further waives her right to seek judicial
review of the Order, or otherwise challenge the validity or legality of the Order.
5. Other Actions. Pursuant to this Stipulation, Davis hereby agrees that the Order is solely
for the purpose of settling and resolving NCUAB's claims against her, as provided by paragraph 1
of this Stipulation, and does not release, discharge, compromise, settle, dismiss, resolve, or in any
way affect any actions, claims, charges against, or liabilities that arise in connection with her former
or current affiliations with Genesee, or any affiliate thereof, and that may be or have been brought
by any other Federal or state government
agency or entity other than the NCUAB.
WHEREFORE, in consideration of the foregoing, Kathleen J. Davis and the National Credit
Union Administration Board execute this Stipulation and Consent to the Issuance of an Order
of Prohibition.
__________/S/___________________
November 29, 1999____
Kathleen J. Davis
Date
NATIONAL CREDIT UNION ADMINISTRATION
BOARD
________/S/
__________
November 24, 1999_____
Gerard S. Poliquin
Date
Office of General Counsel