press releases · March 2, 2026
Press Release
March 03, 2026
Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of United Bank
For release at 11:00 a.m. EST
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The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below:
Consent prohibition order against Jacob Hilton Former employee of United Bank, Fairfax, Virginia Embezzlement of bank funds
Consent prohibition order against Klaus Koberstein Former employee of East Cambridge Savings Bank, Cambridge, Massachusetts Misappropriation of customer funds
Additional enforcement actions can be searched for here .
For media inquiries, please email [email protected] or call 202-452-2955.
Attachment 1 (PDF)
Attachment 2 (PDF)
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APA
Federal Reserve (2026, March 2). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20260303_federal_reserve_board_issues_enforcement_actions
BibTeX
@misc{wtfs_press_release_20260303_federal_reserve_board_issues_enforcement_actions,
author = {Federal Reserve},
title = {Press Release},
year = {2026},
month = {Mar},
howpublished = {Press Releases, Federal Reserve},
url = {https://whenthefedspeaks.com/doc/press_release_20260303_federal_reserve_board_issues_enforcement_actions},
note = {Retrieved via When the Fed Speaks corpus}
}