A US bank employee stole a six-figure sum from a customer, the Federal Reserve Board (FRB) said.
When Brenda Fosson worked as a banker at the Regions Bank branch in Smithville, Tennessee, she… to steal FRB says: $327,500 from a customer.
From April 2022 to July 2024, Fosun withdrew $323,500 from customer accounts in a series of transactions.
She also took $4,000 from the client’s cash box.
As a result of an investigation by local law enforcement, Fosun was fired from the bank on August 2, 2024.
Last year, she pleaded guilty to theft in Tennessee state court and agreed to return the stolen money to the bank.
As a result of her conviction, the Federal Reserve banned Fosson from working at any bank.
The Fed’s consent order says,
“Fosun’s conduct constituted violations of law or regulation, unsafe or unsound banking practices or breaches of fiduciary duty, and included her personal dishonesty and her willful and persistent disregard for the safety and soundness of the bank.”
In a statement issued at the time of her arrest, Regions Bank said He said,
“Our teams are working closely with law enforcement to support the investigation. We have zero tolerance for the type of behavior alleged in this case. Rest assured; we will take all appropriate steps to resolve this matter based on the results of the investigation.”
Regions Bank, also known as Regions Financial Corporation (RF), has $159 billion in assets under management.
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