Press Release

August 29, 2017 Federal Reserve Board permanently bars former employee of Four Oaks Bank and Trust Company from the banking industry For release at 11:00 a.m. EDT Share The Federal Reserve Board on Tuesday announced it is prohibiting James M. Riley, a former City Executive at the Four Oaks Bank and Trust Company branch in Fuquay-Varina, North Carolina, from participating in the banking industry after determining he improperly approved loans for his own benefit. The Board found Riley engaged in unsafe and unsound practices and potential violations of law by approving loans for two individuals who immediately transferred the loan proceeds to Riley. Riley agreed he would not object to the enforcement action with the Federal Reserve. For media inquiries, call 202-452-2955. Attachment (PDF)

Federal Reserve (2017, August 28). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20170829_federal_reserve_board_permanently_bars_former

@misc{wtfs_press_release_20170829_federal_reserve_board_permanently_bars_former,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2017},
  month = {Aug},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20170829_federal_reserve_board_permanently_bars_former},
  note = {Retrieved via When the Fed Speaks corpus}
}