Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{8-31-99 p.C-4746}}
   [11,625] In the Matter of Liberty State Bank, Lebanon, Tennessee, Docket No. FDIC-99-016k (6-21-99)

   Bank agrees to pay civil money penalty assessed by FDIC for violation of Home Mortgage Disclosure Act and Regulation C of the Board of Governors of the Federal Reserve System.

In the Matter of
LIBERTY STATE BANK
LEBANON, TENNESSEE
(Insured State Nonmember Bank)
ORDER TO PAY
FDIC-99-016k

   Liberty State Bank, Lebanon, Tennessee (``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 of section 304 of the Home Mortgage Disclosure Act (``HMDA''), 12 U.S.C. §2803, and section 203.4 of Regulation C of the Board of Governors of the Federal Reserve System (``Regulation C''), 12 C.F.R. §203.4, 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 purposes of this proceeding and without admitting or denying any violations of section 304 of HMDA, 12 U.S.C. §2803, and section 203.4 of Regulation C, 12 C.F.R. §203.4, Respondent consented and agreed {{11-30-99 p.C-4747}}to pay a civil money penalty in the amount of $8,000, related to its inaccurate submission of application and loan data for calendar years 1996 and 1997 required by HMDA.
   The FDIC considered the matter and determined it had reason to believe that the Respondent has engaged or participated in violations of law or regulations for which a civil money penalty of eight thousand dollars ($8,000) 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 Agreement and issued the following:

ORDER TO PAY CIVIL MONEY
PENALTY

   IT IS HEREBY ORDERED, that a penalty of $8,000 be, and hereby is, assessed against Respondent pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2), section 305 of HMDA, 12 U.S.C. §2804, and section 203.6 of Regulation C, 12 C.F.R. §203.6, the receipt of which is hereby acknowledged.
   Pursuant to delegated authority.
   Dated at Washington, D.C. this 21st day of June, 1999.

ED&O Home | Search Form | Text Search | ED&O Help

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