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[¶11,949] In the Matter of The Poca Valley Bank, Inc., Walton, West Virginia,
Docket No. 02-011k (7-10-02).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $5,500.
In the Matter of
THE POCA VALLEY BANK, INC.
WALTON, WEST VIRGINIA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-02-011k
The Poca Valley Bank, Inc., Walton, West Virginia
("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") issued by
the Federal Deposit Insurance Corporation ("FDIC") detailing the
violations 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), section 305 of the Home
Mortgage Disclosure Act ("HMDA"), 12 U.S.C. §2804, and section
203.6 of Regulation C of the Board of Governors of the Federal Reserve
System, 12 C.F.R. §203.6, and has been further advised of the right
to a hearing on the alleged charges under section 8(i)(2) of the Act,
12 U.S.C. §1818(i)(2), 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 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, Respondent consented and agreed to pay a civil money
penalty in the amount of FIVE THOUSAND FIVE HUNDRED AND NO/100 DOLLARS
($5,500.00), related to its inaccurate submission of the application
and loan data required by HMDA for calendar year 2000.
The FDIC considered the matter and determined it had reason to believe
that the Respondent has engaged or participated in violations of law
and regulations for which a civil money penalty of FIVE THOUSAND FIVE
HUNDRED AND NO/100 DOLLARS ($5,500.00) 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:
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ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of FIVE THOUSAND FIVE HUNDRED AND NO/100
DOLLARS ($5,500.00) pursuant to section 8(i)(2) of the Act, 12 U.S.C.
§1818(i)(2), the receipt of which is acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 10th day of July, 2002.