December 15, 2017

Federal Reserve Board permanently bars Lowell W. McCoy, Angela Asbell, and Jacob Harrison from banking industry for engaging in separate unsafe and unsound practices

For release at 10:30 a.m. EST

The Federal Reserve Board on Friday permanently barred Lowell W. McCoy, Angela Asbell, and Jacob Harrison from the banking industry for engaging in separate unsafe and unsound practices.

McCoy, a former member of the board of directors of NBRS Financial, Rising Sun, Maryland, obtained loans from NBRS through a third-party borrower to circumvent applicable lending limits and did not disclose the true purpose of the loans.

Asbell, a former cashier at First State Bank in Commerce, Oklahoma, permitted a bank customer to overdraw his account by approximately $1.2 million, and failed to properly process customer wire transfers and transactions affecting her personal account.

Harrison, a former financial services specialist at Regions Bank, Birmingham, Alabama, made false entries in the bank's records by originating extensions of credit with falsely inflated applicant income.

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