A former Regions Bank branch manager in Harrison has reached an agreement with the Federal Reserve that bars him from working in the banking industry after he was accused of withdrawing $27,000 from customer accounts for his personal benefit.
Jason Lovell was accused of taking the money without customer authorization between Dec. 19, 2023 and Jan. 30, 2024. Lovell has partially repaid the money, according to an order of prohibition issued by the Federal Reserve on Tuesday.
Regions Bank fired Lovell on Feb. 13, 2024.
Lovell is still subject to civil and criminal penalties under federal law, the Federal Reserve notice said. A search of local and federal court records found no criminal charges against Lovell.
Regions Bank spokesman Jeremy D. King said the bank worked closely with law enforcement on the matter.
“Rest assured, we have zero tolerance for the type of behavior that is alleged,” King said. “A limited number of accounts were impacted, and we took action quickly to help resolve the issue. We deeply value the trust our customers place in us, and if that trust is ever violated, that goes against everything we believe in.”
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