Federal Reserve Board issues enforcement action with former chairman of Mariner's Bancorp

The following press release was published by the Board of Governors of the Federal Reserve System on Feb. 5, 2019. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below: Consent Notice of Suspension and Prohibition against Fred Daibes, former Chairman of Mariner's Bancorp, Edgewater, New Jersey, for perpetuating a fraudulent loan scheme, according to a federal indictment.

Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.

Source: Board of Governors of the Federal Reserve System