April 17, 2014 11:03 AM

Federal Reserve penalizes former Missouri banker

Darryl Layne Woods, former president and chairman of Calvert Financial Corp. of Ashland, Mo., consented to the sanctions “based on his participation in unsafe and unsound practices, breaches of fiduciary duty and violations of law and regulation” in his use of funds under the Troubled Asset Relief Program, the Fed said.

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