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LWITED STATES OF AMERICA
BEFORE
THE BOARD OF GOVERNORS OF 'THE FEDERAL RESERVE SYSTEM
WASHINGTON. D.C.
In the Matter of
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Docket No. 05-023-E-I
)
STEFANIE MILMINE
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A Former Institution-Affiliated Party of )
FIFTH THIRD BANK
Grand Rapids, Michigan
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Order of Prohibition
Issued Upon Consent
Pursuant to the Federal
Deposit Insurance Act, as
Amended
WHEREAS, pursuant to sections 8(e) and (i)(3) of the Federal Deposit Insurance
Act, as amended (12 U'.S.C. $5 1818(e) and 1:i)(3))(the "FDI Act"), the Board of
Governors of the Federal Reserve System (the "Board of Governors") issues this consent
Order of Prohibition (the "Order") against Sitefanie Milmine ("Milmine"), a former teller
artd institution-affiliated party, as defined in section 3(u) of the FDI Act (12 U.S.C.
fj 1813(u)), Fifth Third .Bank, Grand Rapids, Michigan. a state member bank. (the
"Bank), relating to Milmine's alleged participation in violations of law and breaches of
fiduciary duty to the Bank in connection with embezzlement of funds at the Balk, as well
as similar violations and breaches at other bamks:
WHEREAS, Milmine allegedly stole a total of approximately $3,060 from the
Blankand has repaid or agreed to repay the Bank that amount;
WHEREAS, Milmine was terminated from her position as a teller at the Bank;
and
WHEREAS, by affixing her signature hereunder. Milmine has consented to the
issuance of this Order by the Board of Governors and has consented to comply with each
anldevery provision of this Order, and has waived any and all rights she might have
pursuant to 12 U.S.C.
S
18 18 or 12 C.F.R. Part 263, or otherwise (a) to the issuance of a
no'tice of intent to prohibit on any matter set forth in this Order; (b) to a hearing for the
purpose of taking evidence with respect to any matter implied or set forth in this Order;
(c:) to obtain judicial review of this Order or any provision hereof; and (d) to challenge or
contest in any matter the basis, issuance, valiidity, terms, effectiveness, or enforceability
of'this Order or any provision hereof;
NOW THEREFORE, prior to the taking of any testimony or adjudication of or
fiinding on any issue of fact or law implied or set forth herein, and without this Order
constituting an admission of any allegation made or implied by the Board of Governors in
connection with this proceeding, and solely for the purpose of settlement of this
proceeding without protracted or extended hearings or testimony:
IT IS HEREBY ORDERED, pursuant to section 8(e) of the FDI Act (12 U.S.C.
5 1818(e)), that:
1. Milmine, without the prior written approval of the Board of Governors, and,
where necessary pursuant to section 8(e)(7)(B) of the FDI Act (12 U.S.C.
5
1818(e)(7)(B)), the appropriate Federal financial institutions regulatory agency, is hereby
and henceforth prohibited:
(a) from participating in any manner in the conduct of the affairs of any
institution or agency specified in section 8(e)(7)(A) of the FDI Act (12 U.S.C.
5
18118(e)(7)(A)), including, but not limited to, any depository institution or any depository
institution holding company;
(b) from soliciting, procuring, translferring, attempting to transfer, voting or
attempting to vote any proxy, consent, or authorization with respect to any voting rights
in any institution described in section 8(e)(7)(A) of the FDI Act;
(c) from violating any voting agreement previously approved by any Federal
banking agency; or
(d) from voting for a director, or serving or acting as an institution-affiliated
party, such as an officer, director or employee in any institution described in section
8(1e)(7)(A)of the FDI Act.
2. All cornmuhications regarding th:is Order shall be addressed to:
(a) Stephen H. Jenkins
Vice president
Federal.Reserve Bank of Cleveland
P.O. Box 6387
leveli id, Ohio 44101-1 38'7
(b) Stefanie'Milrnine
40 Starling Hill Drive
Lake Orion, Michigan 48359
3. Any violation of this Order shall separately subject Milmine to appropriate
civil or criminal penalties or both under secl.ions 8(i) and (j) of the FDI Act
(12 U.S.C
$5 1818(b)(i) and 0')).
4. The provisions of this Order shall not bar, estop, or otherwise prevent the
Eioard of Governors, or any federal or state agency or department from taking any other
action affecting Milmine, provided, however, that the Board of Governors shall not take
any further action against Milmine based upon information presently known by the Board
of Governors relating to the matters addressed by this Order.
5. Each provision of this Order shall remain effective and enforceable until
stzyed, modified, terminated, or suspended in writing by the Board of Governors.
By Order of the Board of Governors of the Federal Reserve System, effective
BlOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM