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[¶12,154] In the Matter of Sandra Ruiz, International Bank of Commerce, Laredo,
Texas, Docket No. 02-196e (2-27-04).
Respondent is 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 SuspensionProhibition FromParticipation in Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights exercise of
In the Matter of
SANDRA RUIZ,
individually, and as an institution-affiliated party of
INTERNATIONAL BANK OF COMMERCE
LAREDO, TEXAS
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-02-196e
Sandra Ruiz ("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 violations, unsafe or unsound banking
practices, and/or breaches of fiduciary duty 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(3), 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 violations, unsafe or unsound banking practices, and/or
any breaches of fiduciary duty, 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 violations, unsafe or
unsound banking practices, and/or breaches of fiduciary duty as an
institution-affiliated party of the International Bank of Commerce,
Laredo, Texas ("Bank");
b. By reason of such violations, practices and/or breaches of fiduciary
duty, the Bank has suffered or will probably suffer financial loss or
other damage, the interests of the Bank's depositors has been or could
be prejudiced and/or Respondent received financial gain or other
benefit; and
c. Such violations, practices and/or breaches of fiduciary duty involve
personal dishonesty on the part of the Respondent or demonstrate the
Respondent's willful and/or continuing disregard for the safety or
soundness of the Bank.
The FDIC further determined that such violations, practices
and/or breaches of fiduciary duty demonstrate Respondent's unfitness
to serve as a director, officer, person participating
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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. Sandra Ruiz 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 8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.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);
c. violating any voting agreement previously approved by the
appropriated 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
provisions of this ORDER shall have been modified, terminated,
suspended, or set aside by the FDIC.
Pursuant to delegated authority.
Dated this 27th day of February, 2004.