First NBC Bank’s stunning $1 billion collapse likely ended dozens of banking careers, some by choice and some by circumstance.
Gregory St. Angelo’s circumstances are unique.
St. Angelo, the former longtime attorney for First NBC, has been cited by a federal agency for having engaged in “unsafe or unsound banking practice” and essentially banned for life from the banking industry.
According to a four-page prohibition order issued by the Federal Deposit Insurance Corp., St. Angelo demonstrated “willful disregard for the safety or soundness of the bank,” which failed in April 2017.
Monday, December 17, 2018
It's pretty harsh when an individual is legally barred from performing any more acts of banking from now on.