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FDIC Enforcement Decisions and Orders

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{{9-30-93 p.C-474}}
   [10,095] In the Matter of Bank of Florida, South Miami, Florida, CR-90-8903-5 (7-31-90).

   FDIC reduced Civil Money Penalty assessed against the Bank.
   [.1] Civil Money Penalty—Amended Order To Pay—Refund Of Excess Amount

In the Matter of

BANK OF FLORIDA
SOUTH MIAMI, FLORIDA
(Insured State Nonmember Bank)
AMENDED ORDER TO PAY
CR-90-8903-5

   WHEREAS, on January 16, 1990, Bank of Florida, South Miami, Florida ("Bank"), entered into a STIPULATION AND CONSENT ORDER TO PAY ("CONSENT ORDER"), with a representative of the Legal Division of the Federal Deposit Insurance Corporation ("FDIC"); and
   WHEREAS, on February 14, 1990, the stipulation was accepted and the CONSENT ORDER issued; and
   WHEREAS, pursuant to that CONSENT ORDER, the Bank remitted a check in the amount of $3000 payable to the United States Treasury; and
   WHEREAS, after further considering the appropriateness of the penalty with respect to the size of financial resources and good faith of the Bank, the gravity of the violation, the history of previous violations, and such other matters as justice may require, the FDIC has determined that the civil {{9-30-93 p.C-475}}money penalty assessed against the Bank should be reduced to $1,943.
   NOW, THEREFORE, IT IS HEREBY ORDERED, that a civil money penalty of $1943 shall be assessed against the Bank.

   [.1] AND IT IS FURTHER ORDERED, that the Bank shall receive a refund check in the amount of $1057, which amount constitutes the excess it has paid above the civil money penalty herein ordered.
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 31st day of July, 1990.
In the Matter of

Bank of Florida South Miami, Florida
(Insured State Nonmember Bank)
STIPULATION AND CONSENT ORDER TO PAY
CR-90-8903-5

   Subject to the acceptance of this STIPULATION AND CONSENT ORDER TO PAY (CONSENT ORDER"), by the Federal Deposit Insurance Corporation ("FDIC"), it is hereby stipulated and agreed between a representative of the Legal Division of the FDIC and Bank of Florida in Miami, South Miami, Florida ("Bank"), as follows:
   1. The parties agree to the issuance of this CONSENT ORDER, assessing a civil money penalty in the amount of $3,000 against the Bank pursuant to section 7(a)(1) of the Federal Deposit Insurance Act ("Act"), as amended by section 911(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"), Pub. L. No. 101-73, § 911(c), 103 Stat. 183, 479-80 (1989) (to be codified at 12 U.S.C. § 1817(a)(1)).
   2. This CONSENT ORDER shall become effective, final and unappealable upon its issuance by the FDIC, and fully enforceable by the FDIC pursuant to the provisions of the Act, as amended, and the FDIC Rules of Practice and Procedures, 12 C.F.R. Part 308, subject only to the provisions of paragraph 3 set forth herein.
   3. In the event the FDIC accepts and issues this CONSENT ORDER, its is agreed that no action will be taken to enforce said CONSENT ORDER in the appropriate United States District Court unless the Bank has violated this CONSENT ORDER.
   4. The Bank agrees to pay the civil money penalty of $3,000 in the form of a check, payable to the Treasurer of the United States, and to deliver said check to the Cash Management Office, FDIC, Room F-652, 550 17th Street, N.W., Washington, D.C. 20429, within ten (10) days of the issuance of the CONSENT ORDER by the FDIC. A copy of said check shall also be sent to Arthur L. Beamon, Associate General Counsel, Compliance and Enforcement, Legal Division, FDIC, 550 17th Street, N.W., Washington, D.C. 20429.
   5. The Bank hereby waives:
   (a) Its right to a the issuance of a formal NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT, AND CONCLUSIONS OF LAW, detailing the alleged charges giving rise to the assessment of a civil money penalty, and a NOTICE OF HEARING;
   (b) All defenses in this proceeding;
   (c) A hearing for the purpose of taking evidence on the alleged charges in this matter;
   (d) A recommended decision by an Administrative Law Judge in this matter; and
   (e) Exceptions and brief with respect to such a recommended decision.
   Dated this 16th day of January, 1990.
   Accepted and issued by the FDIC this 14th day of February, 1990.

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