______________________________________
)
In the Matter of )
)
JOHN I. TYSON, )
)
Former Consumer Loan Department ) Docket No. 96-1201 VI
Manager of Hughes Aircraft Employees )
Federal Credit Union )
Manhattan Beach, California. )
______________________________________)
WHEREAS, John I. Tyson 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. Part 747, et seq.; and
WHEREAS, the National Credit Union Administration Board ("NCUAB") delegated to the Regional Directors of the National Credit Union Administration the authority to issue Orders on behalf of the NCUAB where Respondents consent to the issuance of the Orders.
NOW THEREFORE, this Order prohibits John I. Tyson 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, this Order incorporates by reference and makes a part hereof the Stipulation.
FURTHERMORE, all technical words or terms used in this Order, for which meanings are not specified or otherwise provided by the provisions of this Order shall, in so far as applicable, have meaning as defined in the FCUA, the Rules, Title 12 of the United States Code, and any such words or terms undefined in the foregoing shall have meanings that accord with the best customs and usage in the credit union industry.
FURTHERMORE this Order is effective on the date of its issuance.
NATIONAL CREDIT UNION ADMINISTRATION BOARD
By:
Daniel L. Murphy, Regional Director
Dated:_______________________________
This certifies that I served the foregoing Order of Prohibition against John I. Tyson by certified mail, return receipt requested, addressed to:
Mr. John I. Tyson
2931 Plaza Del Amo #75
Torrance, CA 90503
and
Mr. Wilfred F. Broxterman
Hughes Aircraft Employees Federal Credit Union
1440 Rosecrans Ave
Manhattan Beach, CA 90266
By: ________________________________
Gerard S. Poliquin, Attorney
National Credit Union Administration
Dated: ______________________
______________________________________
)
In the Matter of )
)
JOHN I. TYSON, )
)
Former Consumer Loan Department ) Docket No. 96-1201 VI
Manager of Hughes Aircraft Employees )
Federal Credit Union )
Manhattan Beach, California. )
______________________________________)
John I. Tyson, former Consumer Loan Department Manager of Hughes Aircraft Employees Federal Credit Union, Manhattan Beach, California ("Hughes Credit Union"), 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").
John I. Tyson 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 against John I. Tyson pursuant to Section 206(g) of the Federal Credit Union Act ("FCUA"), 12 U.S.C. § 1786(g). John I. Tyson, 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, John I. Tyson 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 John I. Tyson arising out of his position as Consumer Loan Department Manager of Hughes Credit Union. The issuance of the Order does not in any way constitute an admission of fault or guilt on the part of John I. Tyson.
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 prohibition action against an "institution-affiliated party." John I. Tyson is an "institution-affiliated party" within the meaning of Section 206(r) of the FCUA, 12 U.S.C. § 1786(r). Accordingly, John I. Tyson admits the jurisdiction of the NCUAB over him and over the subject matter of this action
3. Finality. John I. Tyson 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(g) of the FCUA, 12 U.S.C. § 1786(g). Upon its issuance, the Order shall be final, effective and fully enforceable by the NCUAB. The construction and validity of this Stipulation and the Order shall be governed by the laws of the United States of America, and the section and paragraph headings shall not affect the interpretation of this Stipulation or the Order.
4. Waivers. John I. Tyson waives his right to an administrative hearing provided by Section 206(g)(4) of the FCUA, 12 U.S.C. § 1786(g)(4). John I. Tyson further waives his 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, John I. Tyson hereby agrees that the Order is solely for the purpose of settling and resolving NCUAB's claims against him, 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 his former affiliations with Hughes Credit Union, 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, John I. Tyson and the National Credit Union Administration Board execute this Stipulation and Consent to the Issuance of an Order of Prohibition.
___________________________________
John I. Tyson
____________________________
Date
NATIONAL CREDIT UNION ADMINISTRATION BOARD
___________________________________
Gerard S. Poliquin
Trial Attorney
Office of General Counsel
____________________________
Date