| In the Matter of
Lois Paramour
An Institution Affiliated Party and
|
Docket No. 99-0301 II |
WHEREAS, Lois Paramour 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, Lois Paramour, 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. Lois Paramour is an institution-affiliated party in that she was the Manager of the AFSERCO Staff Federal Credit Union, located in Philadelphia, Pennsylvania.
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. Lois Paramour 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.
| In the Matter of
Lois Paramour
An Institution Affiliated Party and
|
Docket No. 99-0301 II |
The National Credit Union Administration Board, by and through
its undersigned counsel, and Lois Paramour, the former Manager
of the AFSERCO Staff Federal Credit Union, located in Philadelphia,
Pennsylvania, 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 Lois Paramour pursuant to Section 206 of the Federal Credit Union Act, 12 U.S.C. §1786. Lois Paramour desires to avoid the time, cost and expense of administrative litigation and 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.
2. Jurisdiction.
(a) Lois Paramour 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, Lois Paramour is subject to the authority of the National Credit Union Administration to initiate and maintain prohibition proceedings against her.
3. Consent. Lois Paramour 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. Lois Paramour 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 Lois
Paramour, execute this Stipulation and Consent to Issuance of
Order of Prohibition.
NATIONAL CREDIT UNION ADMINISTRATION
By: ________--S--________________ _____2/18/99______________
Allan H. Meltzer Date
Associate General Counsel
__________--S--_____________ ______2/15/99_____________
Lois Paramour Date
(Notary Seal) ____________________________
Notary Public
My Commission expires: ________________________________