IN THE MATTER OF
Paul Anken a |
Docket No. 99-11-01-I |
ORDER OF PROHIBITION
WHEREAS, Paul Anken, former Manager of B.T.A. FCU (Credit Union), was a institution-
affiliated party participating in the affairs of said credit union; and
WHEREAS, Paul Anken 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, Paul Anken 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. Paul Anken 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, Paul Anken 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 November 2, 1999,
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: 11-9-99
NATIONAL CREDIT UNION ADMINISTRATION BOARD
BY:_________/S/________________________
Anthony J. LaCreta
Acting Regional Director, Region I, Albany
National Credit Union Administration
UNITED STATES OF AMERICA
NATIONAL CREDIT UNION
ADMINISTRATION
NATIONAL CREDIT UNION ADMINISTRATION
BOARD
IN THE MATTER OF
Paul Anken a |
Docket No. 99-11-01-I |
STIPULATION AND CONSENT TO ISSUANCE OF
ORDER OF
PROHIBITION
The National Credit Union Administration (NCUA), by and through its undersigned counsel, and
Paul Anken, 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 / civil money penalty proceeding against
Paul Anken pursuant to Sections 206(g) and 206(k)(2) of the Federal Credit Union Act,
12 U.S.C. §1786(g), (k)(2). Paul Anken 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 him.
2. Jurisdiction.
(a) B.T.A. 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) Paul Anken, as Manager of 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 Sections 206(g), (k)(1) of the Federal Credit Union Act, 12 U.S.C.
§1786(g), (k)(1) 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. Paul Anken is subject to
the authority of NCUA to initiate and maintain an administrative action
against him.
3. Consent. Paul Anken consents to the issuance by the Board of the NCUA of the
accompanying Order of Prohibition. He further agrees to comply with its terms upon issuance
and stipulates that the Order complies with all requirements of law.
4. Cooperation. Paul Anken agrees to cooperate fully with any NCUA investigation into
activities at Credit Union, including but not limited to, providing full and complete answers to
questions by NCUA in connection therewith.
5. Waivers. Paul Anken waives his 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). He
further waives his 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 Paul Anken execute this Stipulation and Consent
to Issuance of Order of Prohibition.
By:
_________________________
___________/S/___________
NATIONAL CREDIT
UNION
PAUL ANKEN
ADMINISTRATION
Date:
____11/2/99________
Date:
10/26/99