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UNITED STATES OF AMERICA _______________________________ STIPULATION AND CONSENT
TO ISSUANCE OF The National Credit Union Administration (NCUA), by and through its undersigned counsel, and Sharon Brady-Grayer, hereby stipulate and agree as follows: 1. Consideration. The NCUA, based upon information
reported to it, is of the opinion that grounds exist to initiate an
administrative prohibition proceeding against Sharon Brady-Grayer pursuant
to Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g).
Sharon Brady-Grayer denies that such grounds exist, but desires to avoid
the time, cost and expense of such administrative litigation and, without
admitting that such grounds exist, hereby stipulates and agrees to the
following terms in consideration of the forbearance of the NCUA from
initiating such administrative litigation against her. In further consideration
of Sharon Brady-Grayer’s stipulation to the entry of the accompanying
Order of Prohibition, NCUA agrees to waive any further administrative
actions against her pursuant to 12 U.S.C. §1786. 2. Jurisdiction. (a) TEXAS ASSOCIATION OF PROFESSIONALS FCU, (Credit Union), was at all relevant times a federally insured credit union as that term is defined in Section 101(7) of the Federal Credit Union Act, 12 U.S.C.§1752(7). (b) Sharon Brady-Grayer, as a consumer loan specialist at the Credit Union, was an institution-affiliated party as that term is defined in Section 206(r) of the Federal Credit Union Act, 12 U.S.C. §1786(r). (c) 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's Rules and Regulations, 12 C.F.R. Part 747, the NCUA is empowered to maintain enforcement proceedings against federally insured credit unions and institution-affiliated parties. Sharon Brady-Grayer is subject to the authority of NCUA to initiate and maintain an administrative action against her. 3. Consent. Sharon Brady-Grayer consents to the issuance by the Board of the NCUA 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 law. 4. Cooperation. Sharon Brady-Grayer agrees to cooperate fully with any NCUA investigation into activities at the Credit Union, including but not limited to, providing full and complete answers to questions by NCUA or others in connection therewith. 5. Waivers. Sharon Brady-Grayer waives her right to a Notice of Prohibition and administrative hearing as 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. 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 National Credit Union Administration Board, it shall be a final order, immediately effective and fully enforceable by the National Credit Union Administration. 7. Other federally insured financial institutions. In accordance with Section 206(g)(7)(A) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(7)(A), the Order of Prohibition shall constitute a prohibition from further participation in any manner in the affairs of any federally insured financial institution, or other entity identified therein, without the written permission of the NCUA Board and the appropriate federal financial institutions regulatory agency. WHEREFORE, in consideration of the foregoing, the undersigned counsel, on behalf of the National Credit Union Administration, and Sharon Brady-Grayer execute this Stipulation and Consent to Issuance of Order of Prohibition. By: __/s John K. Ianno/_______
_________/s/______________ Date: 6/12/01 Date: 06/05/2001 UNITED STATES OF AMERICA _______________________________
ORDER OF PROHIBITION WHEREAS, Sharon Brady-Grayer, former consumer loan specialist of TEXAS ASSOCIATION OF PROFESSIONALS FCU (Credit Union), was a institution-affiliated party participating in the affairs of said credit union; and WHEREAS, Sharon Brady-Grayer has executed a Stipulation and Consent to Issuance of Order of Prohibition, which is accepted and approved by the National Credit Union Administration acting through its counsel; and WHEREAS, Sharon Brady-Grayer 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's Rules and Regulations, 12 C.F.R. §747; NOW, THEREFORE, IT IS ORDERED THAT: 1. Sharon Brady-Grayer is prohibited from further participation, in any manner, in the conduct of the affairs of any federally insured credit union. 2. Without the prior written approval of the National Credit Union Administration Board and, if applicable, the appropriate federal financial institutions regulatory agency, Sharon Brady-Grayer may not participate in any manner in the affairs of any institution(s) or other entity set forth in Section 206(g)(7)(A) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(7)(A). 3. The Stipulation and Consent to Issuance of this Order of Prohibition, dated 6/12/ , 2001, is made a part hereof and is incorporated herein by this reference. 4. This Order of Prohibition shall become effective on the date it is issued. DATE: 6/18/01 NATIONAL CREDIT UNION ADMINISTRATION BOARD
BY:_____/s/____________________________ |