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[¶11,622] In the Matter of Theresa K. Staley, FirstBank of Colorado Springs, Colorado Springs, Colorado, Docket No. 98-097e (6-10-99)
Respondent prohibited from participating in the conduct of affairs of, or exercising voting rights in, any insured institution without the prior written approval of the FDIC.
[.1] Prohibition, Removal or Suspension—Prohibition From—Participation in Conduct of Affairs
[.2] Prohibition, Removal or Suspension—Prohibition From—Voting Rights, Exercise of
In the Matter of
THERESA K. STALEY,
individually, and as an
institution-affiliated party of
FIRSTBANK OF COLORADO
SPRINGS
COLORADO SPRINGS, COLORADO
(Insured State Nonmember Bank)
ORDER OF PROHIBITION
FROM FURTHER
PARTICIPATION
FDIC-98-097e
Theresa K. Staley (``Respondent'') has been advised of the right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION (``NOTICE'') issued by the Federal Deposit Insurance Corporation (``FDIC'') detailing the unsafe or unsound banking practices for which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION (``ORDER'') may issue, and has been further advised of the right to a hearing on the alleged charges under section 8(e) of the Federal Deposit Insurance Act (``Act'), 12 U.S.C. §1818(e), and the FDIC Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived those rights, Respondent entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER PARTICIPATION (``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 unsafe or unsound banking practices, Respondent consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe that:
(a) Respondent has engaged or participated in unsafe or unsound banking practices as an institution-affiliated party of FirstBank of Colorado Springs, Colorado Springs, Colorado (``Bank'');
(b) By reason of such practices, the interests of the insured depository institution's depositors have been or could be prejudiced and/or the Bank has suffered financial loss or other damage; and
(c) Such practices demonstrate the Respondent's continuing disregard for the safety or soundness of the Bank.
The FDIC further determined that such practices demonstrate Respondent's unfitness to serve as a director, officer, person participating in the conduct of the affairs or as an institution-affiliated party of the Bank, any other insured depository institution, or any other agency or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:
ORDER OF PROHIBITION
FROM FURTHER PARTICIPATION
1. Theresa K. Staley is hereby, without the prior written approval of the FDIC and the appropriate Federal financial institutions regulatory agency, as that term is defined in section 8(e)(7)(D) of the Act, 12 U.S.C. §1818(e)(7)(D), prohibited from:
[.1] (a) participating in any manner in the conduct of the affairs of any financial institution or organization enumerated in section
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8(e)(7)(A) of the Act, 12 U.S.C. §1818(e) (7)(A);1
[.2] (b) soliciting, procuring, transferring, attempting to transfer, voting, or attempting to vote any proxy, consent or authorization with respect to any voting rights in any financial institution enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e) (7)(A);2
(c) violating any voting agreement previously approved by the appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an institution-affiliated party.
2. This ORDER will become effective ten (10) days after its issuance.The provisions of this ORDER will remain effective and enforceable except to the extent that, and until such time as, any provision of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
Pursuant to delegated authority.
Dated this 10th day of June, 1999.
1 Subsection (b)(8), as referenced in section 8(e)(7)(A)(ii), has been redesignated as subsection (b)(9).
2 See footnote 1, supra.
