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7/25/24, 9:27 AM FRB: Press Release -- Combined Orders of Prohibition and Assessment of Civil Money Penalty against John E. Colley -- February … Release Date: February 13, 1998 For immediate release The Federal Reserve Board today announced the issuance of a Combined Order of Prohibition and Assessment of a Civil Money Penalty against John E. Colley, a former employee and institution-affiliated party of the Trustco Bank New York, Schenectady, New York, formerly a state-chartered bank that was a member of the Federal Reserve System. Mr. Colley, without admitting to any allegations, consented to the issuance of the order as a result of his alleged breaches of his fiduciary duty to Trustco. Mr. Colley paid a fine of $40,000. A copy of the order is attached. Order (157 KB PDF) 1998 Enforcement actions Home | News and events Accessibility Last update: March 6, 1998, 12:00 PM https://www.federalreserve.gov/boarddocs/press/enforcement/1998/19980213/ 1/1