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Jackson, Wyoming - The Federal Reserve Board recently announced enforcement actions against John Freeze, a former employee of the Bank of Jackson Hole following a series of events involving the misappropriation of documents, including confidential supervisory information (CSI), that occurred during Freeze's tenure at the bank.

Key Points

• John Freeze was employed by the Bank of Jackson Hole, serving as Chief Financial Officer beginning in September 2013 until his termination on August 9, 2019.
• During his employment, Freeze signed a confidential information policy, acknowledging the restrictions imposed by both bank policy and federal regulations on the availability of CSI.
• After being terminated, Freeze received over 280,000 electronic documents, including those containing CSI belonging to the Board of Governors. These documents were copied from a bank-owned computer to a private cloud account at Freeze’s direction.
• The documents were removed for Freeze's personal benefit, intending to use them in potential future litigation against the bank.
• Freeze did not have permission from the Bank of Jackson Hole to copy any documents, nor did he have authorization from the Board of Governors to obtain its CSI.
• As part of the enforcement actions, and without admitting or denying any allegations made or implied by the Board of Governors, Freeze is now barred from participating in any manner in the conduct of the affairs of any financial institution or agency.