Regulatory Alerts2026-03-03
Federal Reserve Board Issues Enforcement Actions Against Former Employees of East Cambridge Savings Bank and United Bank
The Federal Reserve Board issued consent prohibition orders against Jacob Hilton and Klaus Koberstein, former employees of United Bank and East Cambridge Savings Bank. The regulatory actions address Hilton’s embezzlement of bank funds and Koberstein’s misappropriation of customer funds. Both individuals are permanently barred from participating in the affairs of any insured depository institution or associated entity.
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