The Federal Reserve Board on Thursday announced that it is seeking to permanently bar Mai Ly-Vu, a former branch manager and vice president of Pacific Premier Bank, Irvine, California, from employment in the banking industry and to require her payment of $18,700 in restitution to the bank.
Ly-Vu is alleged to have engaged in unsafe or unsound banking practices and breach of fiduciary duty by failing to disclose her personal financial interests in extensions of credit by the bank to companies owned by her husband and other members of her immediate family.
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