[¶10,935] In the Matter of Young Hak Park, Empire State Bank, New York, New York, Docket No. FDIC-92-350k (1-21-94).
Respondent agrees to pay amended civil money penalty.
In the Matter of
YOUNG HAK PARK,
individually, as director
and as a person participating
in the conduct of the affairs
EMPIRE STATE BANK
NEW YORK,NEW YORK
(Insured State Nonmember BankIn
AMENDED ORDER TO PAY
AS TO YOUNG HAK PARK
The Federal Deposit Insurance Corporation ("FDIC") issued a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTIES, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY AND NOTICE OF HEARING against Young Hak Park ("Respondent"), assessing a civil money penalty against the Respondent pursuant to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i)(2) (1991), and section 18(j)(4), 12 U.S.C. § 1828(j)(4), in the amount of $75,000 for violating section 22(h) of the Federal Reserve Act, 12 U.S.C. § 375(b) and section 215.4(a) of Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 215.4(a) and orders to cease and desist which had become final.
Following the issuance of the Notice, the Respondent and the FDIC executed a Stipulation in which the Respondent agreed to pay a civil money penalty of $7,500 and the FDIC agreed to reduce the civil money penalty to $7,500.
IT IS HEREBY ORDERED, that the ORDER TO PAY issued on January 5, 1993 to the Respondent be, and hereby is, amended to read as follows:
IT IS HEREBY ORDERED, that a penalty of $7,500 be, and hereby is, assessed against Young Hak Park pursuant to section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2) (1991) and section 18(j)(4) of the Act, 12 U.S.C. § 1828(j)(4); said penalty to be paid in the form of a check made payable to the Treasurer of the United States within 30 days of the issuance of this AMENDED ORDER TO PAY.
This AMENDED ORDER TO PAY shall become effective immediately upon its issuance.
Dated at Washington, D.C. this 21st day of January, 1994.
Pursuant to delegated authority.