[¶10,988]In the Matter of Grady B. Lowe, First Acadiana Bank, Eunice, Louisiana, Docket No. FDIC-92-24k, 5-19-94.
Respondent agrees to pay amended civil money penalty.
In the Matter of
GRADY B. LOWE,
individually, and as
director and person participating
in the conduct of the affairs of,
FIRST ACADIANA BANK
(Insured State Nonmember Bank&151;In
AMENDED ORDER TO PAY
The Federal Deposit Insurance Corporation ("FDIC") issued a NOTICE OF ASSESSMENT OF CIVIL PENALTIES, FINDINGS OF FACT AND CONCLUSIONS OF LAW, AND ORDER TO PAY against Grady B. Lowe ("Respondent"), assessing a civil money penalty against the Respondent pursuant to section 18(j)(4) of the Federal Deposit Insurance Act, 12 U.S.C. § 1828(j)(4)(1987), in the amount of $10,000 for violating section 22(h) of the Federal Reserve Act, 12 U.S.C. § 375b, and sections 215.4(a), 215.4(b), 215.4(c) and 215.4(d) of Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 215.4(a), (b), (c) and (d).
Respondent did not answer the Notice nor did he request a hearing within the allotted time. Under the statute at U.S.C. § 1818(i)(2) and the applicable regulations at 12 C.F.R. § 308.19(c)(2), the failure to request a hearing within the time provided constitutes a final and unappealable order.
On September 2, 1992, the Administrative Law Judge issued an Order stating that the $10,000 assessment against Grady B. Lowe was deemed final and unappealable.
Subsequently, Respondent and the FDIC executed a stipulation in which Respondent agreed to pay a civil money penalty of $2, 500 and the FDIC agreed to reduce the civil money penalty to $2,500.
IT IS HEREBY ORDERED, that the ORDER TO PAY issued on June 9, 1992 to the Respondent be, and hereby is, amended to read as follows:
IT IS HEREBY ORDERED, that a penalty of $2,500 be, and hereby is, assessed against Grady B. Lowe pursuant to section 18(j)(4) of the Act, 12 U.S.C. § 1828(j)(4) (1987); said penalty to be paid in the form of a check made payable to the Treasurer of the United States.
In the event the Respondent fails to remit the $2,500 penalty as specified herein, the entire balance of the $10,000 civil money penalty together with all accrued interest shall become immediately due and payable.
This Amended Order to pay shall become effective on the date of its issuance.
Dated at Washington, D.C., this 19th day of May, 1994.
Pursuant to delegated authority.