Florance McKoy has been permanently banned from the financial industry by the National Credit Union Administration (NCUA). The former Employee at Shepherd\'s Federal Credit Union in Charlotte, NC was removed following misconduct that breached fiduciary duties to the credit union and its members.
Enforcement Summary
Florance McKoy
Shepherd\'s Federal Credit Union
NCUA
Misconduct
The Investigation
According to NCUA enforcement records, the individual engaged in conduct that breached fiduciary duties to the credit union and its members.
Terms of the Prohibition Order
Under the Consent Order, Florance McKoy is permanently prohibited from:
- Participate in any manner in the conduct of affairs of financial institutions
- Solicit, procure, transfer, or vote any proxy with respect to voting rights
- Serve or act as an institution-affiliated party
- Vote for a director or serve as a director, officer, or employee
This prohibition applies to:
- Any insured depository institution
- Any insured credit union under the Federal Credit Union Act
- Any institution chartered under the Farm Credit Act
- The Federal Housing Finance Agency and any Federal home loan bank
Industry-Wide Ban
The NCUA has issued a Consent Prohibition Order permanently banning Florance McKoy from participating in the affairs of any federally insured financial institution. This prohibition extends to serving as a director, officer, or employee of any insured depository institution, as well as voting on any matters affecting credit unions or banks.
The ban applies to all FDIC-insured banks, federal credit unions, and other regulated financial institutions nationwide. This ensures that individuals who breach their fiduciary duties cannot simply move to another institution and repeat their misconduct.
Report Credit Union Misconduct
If you have information about Florance McKoy or any banned individual operating in the financial industry, you are encouraged to report this activity immediately.
Source: NCUA Enforcement Actions (Docket 15-0099-R3). Data current as of 2015.
Individuals subject to regulatory actions may contest findings or have additional context not reflected in public records.