Federal Reserve bans former Arvest banker over $42,700 customer theft
FAYETTEVILLE, Ark. (KNWA/KFTA) — The Federal Reserve has banned a former banker at Arvest Bank in Springdale after he took over $42,700 from customers’ accounts for his own use.
Christopher Timos was employed at Arvest Bank from Nov. 2020 until his termination on March 21, 2025.
According to the Federal Reserve, between Dec. 1, 2023, and March 20, 2025, Timos engaged in conduct that violated banking laws and regulations, involving the unauthorized use of customer funds totaling $42,731.28.
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Under the terms of the Federal Reserve’s consent order, Timos is now not allowed to work for or be involved with any bank or financial company unless the Federal Reserve gives special permission. Any violation of this Order could lead to civil or criminal penalties.
The order was issued without Timos admitting or denying the allegations but with his consent, avoiding a formal hearing or prolonged litigation, according to the document.
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