The National Credit Union Administration (NCUA) issued one prohibition order in May 2025, permanently prohibiting an individual from participating in the affairs of any federally insured depository institution, and terminated a cease and desist order after a credit union fulfilled its terms and requirements. The prohibition applies to Desiree Canepa, a former employee of Antioch Community Federal Credit Union in Antioch, California. The cease and desist order for Phi Beta Sigma Federal Credit Union in Washington, District of Columbia was terminated by the NCUA Board through its Eastern Regional Director. The agency noted that its administrative orders are legally enforceable actions issued under Section 206 of the Federal Credit Union Act and are generally used where a credit union or affiliated parties have violated laws or regulations, breached fiduciary duties, or engaged in unsafe or unsound practices.
National Credit Union Administration 2025-05-30
National Credit Union Administration permanently bars former Antioch Community Federal Credit Union employee and terminates Phi Beta Sigma Federal Credit Union cease and desist order
The National Credit Union Administration (NCUA) issued a prohibition order in May 2025, barring Desiree Canepa from involvement with any federally insured depository institution. Additionally, the NCUA terminated a cease and desist order for Phi Beta Sigma Federal Credit Union after compliance with its terms. These actions are legally enforceable under Section 206 of the Federal Credit Union Act.