UNITED STATES OF AMERICA
BEFORE THE NATIONAL CREDIT UNION ADMINISTRATION BOARD
ALEXANDRIA, VIRGINIA
________________________________
In the Matter of
Janice Pressley,
Docket No. 96-1102-1
Northeastern Conference
Federal Credit Union,
Queens, New York
Respondent
________________________________
FINAL DECISION AND ORDER
Introduction
On November 6, 1996, the NCUA Board instituted cease and desist and civil money penalty
proceedings against Northeastern Conference Federal Credit Union ("the FCU"), its president,
vice-president, and its treasurer, Janice Pressley ("the Respondent"). NCUA charged that the FCU
and named officials had prevented NCUA from examining the books and records of the FCU, in
violation of 12 U.S.C. §§1756, 1781(b)(2), and 1784(a). The president and vice president executed
a stipulated consent cease and desist order and agreement to pay civil money penalties. The president
also executed the order and agreement on behalf of the FCU.
On July 9, 1997, Administrative Law Judge ("ALJ") Walter J. Alprin held a hearing on the charges
against the Respondent. The Respondent did not testify, offer exhibits, or submit proposed findings of
fact or conclusions of law. In his recommended decision, the ALJ concluded that the Respondent was
an institution-affiliated party and had committed the charged violation. The ALJ recommended the
issuance of a cease and desist order, an assessment of a civil money penalty of $5,000, and an order
of indemnification repayment.
Discussion and Conclusion
The ALJs findings of fact and conclusions of law are fully supported by the evidence and, in any
event, were not objected to by the Respondent. The NCUA Board, having considered the entire
record in this proceeding and the requirements of 12 U.S.C. §1786(e), (k), and (t), and 12 C.F.R.
Part 747, agrees with the ALJs recommended findings and conclusions, and adopts and incorporates
herein by reference the ALJs recommended decision. The NCUA Board also adopts, as modified
below, the ALJs proposed order.
ORDER
It is hereby ORDERED, that the Respondent, Janice Pressley, shall discontinue and cease and desist
from all activities in any way or manner or by any device, directly or indirectly, personally or through
others, interfering with employees of the National Credit Union Administration in their performance of
examinations and all other procedures involving the Northeastern Conference Federal Credit Union,
including but not limited to admitting said employees immediately upon request; providing complete,
unimpaired and immediate access to all credit union books and records and any such records
specifically requested; maintaining all books and records of the credit union within the credit union
offices and not elsewhere; providing adequate work space and facilities such as access to electrical
outlets by which to conduct the examination within the offices of the credit union; providing assistance
in locating requested records, responding to questions and to phone calls, and conducting follow-up
examinations and periodic credit union contacts; and mailing monthly statements to the examiners by
the15th of each month unless excused by the examiner, and further, shall affirmatively undertake the
requirement to perform such duties as required by statute and regulation.
It is FURTHER ORDERED, that said Respondent shall pay to or reimburse the credit union for any
and all legal fees and expenses expended or to be expended on her behalf in this proceeding by the
said credit union, and shall, within thirty days of the effective date of this Final Order, deliver by
overnight express mail addressed to the enforcement counsel for the National Credit Union
Administration, a sworn statement setting forth all costs and expenses, if any, paid by the credit union
on her behalf or for her benefit in this proceeding, and shall include a certified or bank check to the
order of the credit union in the unpaid amount thereof. This shall be a continuing requirement of the
Respondent, to provide any notice of any future as well as past payments and pay indemnification
thereof.
And it is FURTHER ORDERED, that within thirty days of the effective date of this Final Order, the
Respondent shall pay the civil money penalty assessment of $5,000 by certified or bank check
payable to the United States Department of the Treasury, delivered to the National Credit Union
Administration for deposit into the Treasury pursuant to 12 U.S.C. §1787(k)(2)(J).
This order shall become effective at the expiration of thirty days after the issuance and service thereof
upon the Respondent or upon the Respondents counsel and shall remain in effect until such time as it
is stayed, modified, terminated, or set aside by the National Credit Union Administration or a
reviewing Court.
So ordered, this 25th day of February 1998 by the National Credit Union Administration Board.
_________________________
Becky Baker
Secretary of the Board