Press Release

March 03, 2026 Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of United Bank For release at 11:00 a.m. EST Share The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: Consent prohibition order against Jacob Hilton Former employee of United Bank, Fairfax, Virginia Embezzlement of bank funds Consent prohibition order against Klaus Koberstein Former employee of East Cambridge Savings Bank, Cambridge, Massachusetts Misappropriation of customer funds Additional enforcement actions can be searched for here . For media inquiries, please email [email protected] or call 202-452-2955. Attachment 1 (PDF) Attachment 2 (PDF)

Federal Reserve (2026, March 2). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20260303_federal_reserve_board_issues_enforcement_actions

@misc{wtfs_press_release_20260303_federal_reserve_board_issues_enforcement_actions,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2026},
  month = {Mar},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20260303_federal_reserve_board_issues_enforcement_actions},
  note = {Retrieved via When the Fed Speaks corpus}
}