The Board of Governors of the Federal Reserve System, United States, has issued an official Order of Prohibition against Jamal Hillman, a former employee of First Financial Bank, Cincinnati, Ohio. Hillman was working as a Consumer Banker at a branch of First Financial Bank in Cincinnati. He was terminated from his job on February 11, 2022.
What Happened?
According to the order, Hillman improperly accessed confidential customer account information. He then shared this sensitive information with third-party associates. These associates used the details to create counterfeit cheques drawn on the accounts of other bank customers. The fake cheques were successfully cashed, resulting in a financial loss of $35,000 to the bank.
The Federal Reserve stated that Hillman’s actions violated the bank’s written policies and procedures, violated banking laws and regulations, involved unsafe or unsound banking practices, breached fiduciary duty, and involved personal dishonesty and willful disregard for the bank’s safety and soundness.
Federal Reserve’s Action
Under Section 8(e) of the Federal Deposit Insurance Act (FDI Act), the Federal Reserve has permanently prohibited Hillman from participating in the banking industry without prior written approval.
This means Hillman is now banned from:
- Participating in the affairs of any insured depository institution
- Working for or serving as an officer, director, or employee of any bank or bank holding company
- Voting shares or attempting to influence voting rights in such institutions
- Violating any previously approved voting agreements
He cannot be associated in any manner with banks, bank holding companies, their subsidiaries, or certain foreign banking institutions, unless he receives prior written approval from the Federal Reserve and, where required, other financial regulators.
Consent Order
Hillman consented to the issuance of this order. By signing the order:
- He agreed to comply with all its provisions.
- He waived his right to a hearing.
- He waived his right to challenge the order in court.
- He did not admit or deny the allegations but agreed to settle the matter without formal litigation.
Penalties for Violation
The order clearly states that if Hillman violates any part of the prohibition, he may face civil or criminal penalties under Sections 8(i) and 8(j) of the FDI Act.
Further Action
The order does not prevent the Federal Reserve or any other federal or state agency from taking additional action against Hillman if necessary. However, the Federal Reserve will not take further action related to the same facts already addressed in this order, based on currently known information.
The order will remain fully effective unless it is formally modified, suspended, or terminated in writing by the Federal Reserve.
Effective Date
The Order of Prohibition became effective on February 18, 2026, and was issued by the Board of Governors of the Federal Reserve System.
Download Court Order PDF (This PDF is available for Premium Users Only. Click here to join premium)
-
-
-
-
-
-
-
-
-
-
-
-
