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Fed Bans Ex-Arvest Employee from Banking After $42K in Customer Funds Misused
Summary by Arkansas Business
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Fed Bans Ex-Arvest Employee from Banking After $42K in Customer Funds Misused
A Federal Reserve order on Monday banned a former Arvest Bank of Fayetteville employee from the banking industry after he misappropriated more than $42,000 in customer funds. Arvest hired Christopher Timos in November 2020 to work at a Springdale branch. He began misappropriating funds for his personal benefit in December 2023, the enforcement action said. Arvest fired him in March. The order didn’t provide details on how Timos misappropriated t…
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