Fed Enforces Actions on Ex-Employees of Two Banks

Prohibition orders issued against former bank workers for embezzlement and misappropriation of funds

Mar. 14, 2026 at 2:04am

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The Federal Reserve Board announced enforcement actions against two former bank employees, issuing consent prohibition orders against Cassandra Grayson, a former employee of Equity Bank in Andover, Kansas, for embezzlement of bank funds, and Sandra Adams, a former employee of First State Bank of Dongola in Dongola, Illinois, for misappropriation of customer funds.

Why it matters

The Federal Reserve has the authority to take enforcement actions against bank employees who engage in misconduct, including prohibiting them from working in the banking industry in the future. These actions help maintain public trust in the financial system and protect consumers from further harm.

The details

The Federal Reserve Board issued consent prohibition orders against Cassandra Grayson, a former employee of Equity Bank in Andover, Kansas, and Sandra Adams, a former employee of First State Bank of Dongola in Dongola, Illinois. Grayson was found to have embezzled bank funds, while Adams was accused of misappropriating customer funds.

  • The enforcement actions were announced on March 14, 2026.

The players

Cassandra Grayson

A former employee of Equity Bank in Andover, Kansas who was issued a consent prohibition order by the Federal Reserve Board for embezzlement of bank funds.

Sandra Adams

A former employee of First State Bank of Dongola in Dongola, Illinois who was issued a consent prohibition order by the Federal Reserve Board for misappropriation of customer funds.

Equity Bank

A bank located in Andover, Kansas where Cassandra Grayson was formerly employed.

First State Bank of Dongola

A bank located in Dongola, Illinois where Sandra Adams was formerly employed.

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The takeaway

These enforcement actions by the Federal Reserve demonstrate its commitment to holding bank employees accountable for misconduct and protecting the integrity of the financial system. The prohibition orders issued against Grayson and Adams will prevent them from working in banking in the future, sending a strong message about the consequences of embezzlement and misappropriation of funds.