Fed bars two former Regions bankers from one Memphis branch over check fraud

Sept. 18, 2026 — The Federal Reserve has barred four former Regions Bank employees from the banking industry in orders announced since July 30. Two were relationship bankers at the same Memphis branch, and each of their orders says the banker was part of a broader check-fraud ring that caused the bank more than $396,000 in losses.

In an order announced Aug. 13, the Fed says a relationship banker at the Hickory Ridge branch in Memphis knowingly cashed counterfeit or fraudulent checks in return for cash and other personal benefits; an order announced Sept. 18 makes the same allegations against a second banker from that branch. On July 30, the Fed barred a former Orlando relationship banker it says withdrew about $203,000 from an elderly customer's accounts over more than a year. On Aug. 20, it barred a former relationship banker in Smyrna, Ga., who it says took $23,902 from a customer's account.

The same day, the Fed barred a former teller at United Community Bank in Greenville, S.C., who it says skimmed $26,917 from a business customer's cash deposits and was convicted of larceny under North Carolina law after pleading guilty.

Each former employee consented to the order; the four former Regions employees did so without admitting or denying the allegations. Regions, based in Birmingham, Ala., is not accused of wrongdoing, and the orders do not say how the misconduct was discovered.

The wall: The orders do not say how the misconduct was found, or whether the two Memphis orders describe the same ring; Regions was not asked for comment.

Tier: Confirmed (key facts read in primary at passage level or better)

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Fed bars two former Regions bankers from one Memphis branch over check fraud

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