| For immediate release |
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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) |