The Federal Reserve Board has issued an enforcement action against a former Sandy Spring Bank employee who authorities say misappropriated approximately $246,000 while working at a Silver Spring branch.
According to an order released by the Federal Reserve on Thursday, September 24, Renee Nicole Brown worked as a teller supervisor at a Sandy Spring Bank branch in Silver Spring until she was terminated in August 2024.
The Federal Reserve said Brown misappropriated approximately $246,000 from teller cash dispenser machines between June 2023 and July 2024. Brown later pleaded guilty and, on May 4, 2026, was convicted under Maryland law of a “Theft Scheme.” She received probation and was ordered to make partial restitution to the bank, according to the order.
The Federal Reserve’s consent order prohibits Brown from participating in the affairs of an insured depository institution or certain other financial institutions without prior regulatory approval. The prohibition includes serving as an officer, director or employee of covered institutions. The order remains in effect unless it is stayed, modified, terminated or suspended in writing by the Federal Reserve.
Sandy Spring Bank, which was headquartered in Olney, has since merged with Atlantic Union Bank. The Federal Reserve noted that the merger occurred after the misconduct described in the order.
