Current through October 31, 2024
Section 796.5 - What are the penalties for violating these special post-employment restrictions?(a)Penalties under section 1786(w)(5) of the Act. An NCUA senior examiner who violates the post-employment restrictions set forth in § 796.3 can be:(1) Removed from participating in the affairs of the relevant credit union and prohibited from participating in the affairs of any federally insured credit union for a period of up to five years; and, alternatively, or in addition,(2) Assessed a civil monetary penalty up to the amount specified in § 747.1001 of this chapter.(b)Other penalties. The penalties in paragraph (a) of this section are not exclusive, and a senior examiner who violates the restrictions in § 796.3 also may be subject to other administrative, civil, and criminal remedies and penalties as provided in law. 70 FR 72703 , Dec. 7, 2005, as amended at 80 FR 57289 , Sept. 23, 2015