| For immediate release |
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The Federal Reserve Board today announced the issuance of an Order to Cease and Desist against Patti Colbourn, a former managing director, trader and institution-affiliated party of the Chemical Bank, New York, New York, presently doing business as the Chase Manhattan Bank, that is a member of the Federal Reserve System. Ms. Colbourn, without admitting to any allegations, consented to the issuance of the Order as a result of her alleged participation in unsafe and unsound practices in the course of her activities as a trader of mortgage-backed securities for Chemical. A copy of the order is attached. |
| Order (127 KB PDF) |