The Federal Reserve Board on Friday permanently barred Lowell W. McCoy, Angela Asbell, and Jacob Harrison from the banking industry for engaging in separate unsafe and unsound practices.
McCoy, a former member of the board of directors of NBRS Financial, Rising Sun, Maryland, obtained loans from NBRS through a third-party borrower to circumvent applicable lending limits and did not disclose the true purpose of the loans.
Asbell, a former cashier at First State Bank in Commerce, Oklahoma, permitted a bank customer to overdraw his account by approximately $1.2 million, and failed to properly process customer wire transfers and transactions affecting her personal account.
Harrison, a former financial services specialist at Regions Bank, Birmingham, Alabama, made false entries in the bank's records by originating extensions of credit with falsely inflated applicant income.