The Federal Reserve has banned a Montgomery, Alabama-based former Regions Bank teller after he allegedly stole $17,981 from his drawer last February, the central bank announced Tuesday.
Markel O’Neal Calhoun, who worked at Regions from October 2023 to March 2024, allegedly took the funds “for his personal benefit” between Feb. 15 and Feb. 27, 2024.
“Calhoun’s conduct constituted violations of law or regulation, unsafe or unsound banking practices, and breaches of fiduciary duty, and involved his personal dishonesty and his willful and continuing disregard for the safety and soundness of the Bank,” the Federal said in a consent order last Thursday.
No customer accounts were directly affected, a Regions spokesperson said. Rather, an investigation suggests that Calhoun stole from the branch’s general cash.
“We appreciate the diligence of the Federal Reserve Board as it works to bring this matter to justice,” a Regions spokesperson said. “We will ensure our full cooperation should additional bank assistance be required.”
Calhoun is the seventh person this year to be hit with a prohibition order from the Fed. Ten others have been subject to Section 19 letters, a similar type of enforcement action that also includes banking industry bans.
One such letter was issued to former Federal Reserve Bank of Richmond senior supervisor Robert Brian Thompson, who pleaded guilty in November to insider trading and making false statements. Thompson was sentenced to two years in prison and agreed to pay more than $652,000 in penalties, according to a judgment issued last month.
