[¶11,252] In the Matter of Buster Bush, Coffee County Bank, Manchester, Tenn., Docket No. FDIC-95-112k (11-8-95)
Respondent agrees to pay civil money penalty assessed by FDIC.
In the Matter of
BUSTER BUSH, individually,
and as an institution-affiliated
COFFEE COUNTY BANK
(Insured State Nonmember Bank)
ORDER TO PAY
Buster Bush ("Respondent") has been advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTIES, FINDINGS OF FACTS AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the violations, unsafe or unsound banking practices, and/or breaches of fiduciary duty for which an ORDER TO PAY may issue, and has been further advised of the right to a hearing on the alleged charges under section 8(i) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i), and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived those rights, the Respondent entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, whereby solely for the purpose of this proceeding and without admitting or denying any violations, unsafe or unsound banking practices, and/or any breaches of fiduciary duty, Respondent consented to the issuance of an ORDER TO PAY by the FDIC. Respondent agreed to pay a civil money penalty in the amount of $5,000 within 20 days after issuance of the ORDER TO PAY in the form of a check made payable to the Treasurer of the United States.
IT IS HEREBY ORDERED, that a penalty of $5,000 be, and hereby is, assessed against Buster Bush pursuant to section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2).
Said penalty shall be due and payable within 20 days of the issuance of the Order to Pay and shall be paid in the form of a check made payable to the Treasurer of the United States pursuant to section 308.118 of the FDIC Rules and Regulations, 12 C.F.R. § 308.118, with a copy of said check forwarded to the FDIC's Memphis Regional Office.
Dated at Washington, D.C. this 8th day of November, 1995.
Pursuant to delegated authority.