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UNITED STATES OF AMERICA IN THE MATTER OF
) ORDER OF PROHIBITION WHEREAS, Ruth Bast 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, Ruth Bast, 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 Rules and Regulations; NOW THEREFORE, IT IS ORDERED THAT: 1. Ruth Bast is an institution-affiliated party in that she was the Manager of the Georgia Pacific Credit Union, located in Canton, Ohio. 2. The Stipulation and Consent to the Issuance of this Order of Prohibition is made a part hereof and is incorporated herein by reference. 3. Ruth Bast is prohibited from participating in any manner in the conduct of the affairs of any federally insured credit union and any other institution as defined in 12 U.S.C. §1786(g)(7). 4. This Order of Prohibition shall be effective on the date it is issued. Dated this __30th___ day of May, 2002 NATIONAL CREDIT UNION ADMINISTRATION BOARD ______________/s/___________________ UNITED STATES OF AMERICA IN THE MATTER OF
) STIPULATION AND CONSENT TO ISSUANCE OF The National Credit Union Administration Board, by and through its undersigned counsel, and Ruth Bast, the former Manager of the Georgia Pacific Credit Union, located in Canton, Ohio, hereby stipulate and agree as follows: 1. Consideration. The National Credit Union Administration is of the opinion that grounds exist to initiate an administrative prohibition against Ruth Bast pursuant to Section 206 of the Federal Credit Union Act, 12 U.S.C. §1786. Ruth Bast denies the existence of such grounds and further denies in total any wrongdoing or that she engaged in any violation of any law or regulation, whether of the United States of America or the State of Ohio, or that she failed to comply with any lending institution’s policies or procedures. Without any admission against her interest, Ruth Bast desires to avoid the time, cost and expense of administrative litigation. Based upon the foregoing, Ruth Bast hereby stipulates and agrees to the following terms in consideration of the forbearance of the National Credit Union Administration Board from conducting an administrative hearing and imposing other remedial sanctions against her with respect to her employment as an institution-affiliated party of the Georgia Pacific Credit Union, including, but not limited to, the waiving of the right to assess, receive, or collect any penalty or restitution pursuant to the provisions of 12 U.S.C. §§ 1786(e)(3) or 1786(k)(2). This agreement shall not act as a bar to the National Credit Union Administration Board pursuing any action necessary to enforce compliance with the terms of the Order. 2. Jurisdiction. (a) Ruth Bast 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 Board of the National Credit Union Administration 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 such institution-affiliated party. Therefore, Ruth Bast is subject to the authority of the National Credit Union Administration to initiate and maintain prohibition proceedings against her. 3. Consent. Ruth Bast consents to
the issuance by the National Credit Union Administration 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 law. 4. Waivers. Ruth Bast 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 otherwise challenge the validity or legality of the Order. 5. 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, effective and fully enforceable by the National Credit Union Administration. WHEREFORE, in consideration of the foregoing, the undersigned, on behalf of the National Credit Union Administration and Ruth Bast, execute this Stipulation and Consent to Issuance of Order of Prohibition. NATIONAL CREDIT UNION ADMINISTRATION By: /s/
5/29/02____ _________/s/____________________ ______5-23-02____ (Notary Seal) ___Tera L. Mucci_____________ My Commission expires: ___May 14th, 2004______________. |