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FDIC Enforcement Decisions and Orders

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{{4-30-96 p.C-4155}}
[11,262] In the Matter of Eurobank, Boca Raton, Fla., Docket No. FDIC-95-179k (1-22-96).

   Respondent agrees to pay civil money penalty assessed by FDIC.
   EuroBank, Boca Raton, Florida ("Respondent"), has been advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE OF ASSESSMENT") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the violations of law and regulations for which a civil money penalty may be assessed against the Respondent pursuant to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i)(2), and has been further advised of the right to a hearing on the alleged charges under section 8(i)(2)(H) of the Act, 12 U.S.C. § 1818(i)(2)(H), and the FDIC 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 CIVIL MONEY PENALTY ("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 of law or regulations, and Respondent agreed to pay a civil money penalty of two thousand, five hundred dollars ($2,500.00) contemporaneously with the execution of the CONSENT AGREEMENT, and did so.
   The FDIC considered the matter and determined it had reason to believe that Respondent had engaged in violations of law and regulations for which a civil money penalty of two thousand, five hundred dollars ($2,500.00) is appropriate to be assessed against the Respondent pursuant to section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2).
   The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following ORDER TO PAY:
   IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a civil money penalty of two thousand, five hundred dollars ($2,500.00), receipt of which is hereby acknowledged.
   Dated at Washington, D.C., this 22nd day of January, 1996.
   Pursuant to delegated authority.

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Last Updated 6/6/2003 legal@fdic.gov