NextFin news, On Thursday, September 18, 2025, the Federal Reserve Board issued prohibition orders barring two former bank employees from any future employment in the banking industry following their criminal convictions. The individuals, Rahimlen Dean, a former teller at M&T Bank in Buffalo, New York, and Jerman McGlown, a former wire transfer administrator at First Horizon Bank in Memphis, Tennessee, were found guilty of crimes involving customer data theft and embezzlement.
Dean, who worked at M&T Bank, a $210 billion asset institution, accessed a customer's bank account in May 2023 and stole $5,239.79 to pay her own credit card balance. Subsequently, she ordered a debit card linked to the customer's account and withdrew an additional $25,015.50 over several months for personal use. Dean had been employed as a teller since 2021.
McGlown, employed at First Horizon Bank, an $82.1 billion asset bank, exploited his position to obtain confidential customer information. He provided this data to a third party who impersonated customers to initiate fraudulent wire transfers, resulting in a loss of $42,000 to the bank.
The Federal Reserve stated that the conduct of both individuals violated laws and regulations, constituted unsafe or unsound banking practices, breached fiduciary duties, and involved personal dishonesty, thereby endangering the safety and soundness of their respective banks.
Under Section 19 of the Federal Deposit Insurance Act, the Fed issued so-called Section 19 letters prohibiting Dean and McGlown from working in any capacity within the banking industry. This prohibition includes employment as an employee, officer, director, or agent of a bank or bank holding company, as well as voting for bank directors. To work in the industry again, they would need to obtain a waiver from the Federal Deposit Insurance Corporation (FDIC).
Both individuals waived their rights to a hearing or judicial review and settled the matter without admitting or denying wrongdoing. They no longer work at their respective banks.
The Federal Reserve's enforcement action aims to uphold the integrity of the banking industry by preventing individuals convicted of crimes related to dishonesty and financial misconduct from holding positions of trust within banks.
Requests for comment from M&T Bank and First Horizon Bank were not immediately returned.
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