| In the Matter of
JUNE WALTERS, Former Member of the Board of Directors,
|
Docket No. 99-0801-II
|
ORDER OF PROHIBITION
WHEREAS, June Walters 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 June Walters 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 Orderincorporates 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 against June Walters is effective on the date
of its issuance.
NATIONAL CREDIT UNION ADMINISTRATION
BOARD
By:
/s/
Tawana Y. James, Regional Director
Dated: 8/12/99
| In the Matter of
JUNE WALTERS, Former Member of the Board of Directors,
|
Docket No. 99-0801-II
|
STIPULATION AND CONSENT TO
ISSUANCE OF AN ORDER OF PROHIBITION
June Walters, former Member of the Board of Directors of Jessop Employees Federal Credit
Union, Washington, Pennsylvania ("Jessop"), 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").
June Walters 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 June Walters pursuant to Section 206(g) of the Federal Credit
Union Act ("FCUA"), 12 U.S.C. § 1786(g). June Walters, 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, June Walters 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 her arising out of her former position as a Board Member of Jessop.
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." June Walters is an "institution-affiliated party"
within the meaning of Section 206(r) of the FCUA, 12 U.S.C. § 1786(r). Accordingly, June
Walters admits the jurisdiction of the NCUAB over her and over the subject matter of this action
3. Finality. June Walters 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. June Walters waives her right to an administrative hearing provided by
Section 206(g)(4) of the FCUA, 12 U.S.C. § 1786(g)(4). June Walters 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, June Walters 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 his former affiliations with Jessop, 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, June Walters and the National Credit
Union Administration Board execute this Stipulation and Consent to the Issuance of an Order of
Prohibition.
___________/s/________
___5/11/99________
June Walters
Date
NATIONAL CREDIT UNION ADMINISTRATION
BOARD
_________/s/___________
____7/26/99_________
Gerard S. Poliquin
Date
Trial Attorney
Office of General Counsel