Loan examiner arrested after violating ethics agreement

(WMC-TV) - The TBI has arrested a loan examiner on charges of official misconduct.

Marilyn Schroeppel is in jail, accused of taking out a loan and falling behind.

"The bank ended up sending a garnishment of wages for more than $27,000 because she had fallen behind to her employer," TBI spokesperson Kristin Helm said.

At the time, Schroeppel worked for the Tennessee Department of Financial Institutions.

"We are a 150 person department," TDFI Director Greg Gonzalez said. "We regulate over 9000 financial institutions and individuals."

Schroeppel was assigned to examine loans from First Metropolitan Financial Services. According to investigators, since 2008, Schroeppel has taken out four separate loans for a car and other items through First Metropolitan Financial Services.

"She actually had to sign an ethics form every year in her position," Helm said. "And she was signing it, saying she was not receiving a loan from these banks that she was conducting examinations on."

When the wage garnishment showed up, Schroeppel was fired. Gonzalez requested an investigation, and a grand jury indicted her on official misconduct charges for allegedly abusing a position of trust.

"Those people are expected to do their jobs with honesty, with integrity, and within the law, and when they don't do that, the official misconduct charge is usually used," Helm said.

Friday, a family member said Schroeppel is trying to raise enough money to post bond.

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