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[¶12,156] In the Matter of Teresa Rodriguez, Union State Bank, Carrizo Springs,
Texas, Docket No. 03-165e (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
TERESA RODRIGUEZ,
individually, and as an institution-affiliated party of
UNION STATE BANK
CARRIZO SPRINGS, TEXAS
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-03-165e
Teresa Rodriguez ("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
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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(e), 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 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) The Respondent has engaged or participated in violations,
unsafe or unsound banking practices, and/or breaches of fiduciary
duty as an institution-affiliated party of Union State Bank, Carrizo
Springs, Texas ("Bank");
(b) By reason of such violations, practices and/or breaches of
fiduciary duty, the Bank has suffered a financial loss or other damage,
the interests of the Bank's depositors have 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 on the
part of the Respondent demonstrate the Respondent's personal
dishonesty and 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 the 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). Furthermore, the FDIC accepted the CONSENT AGREEMENT
and issued the following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Teresa Rodriguez is hereby, without the prior written approval
of the FDIC and the appropriate Federal financial institutions
regulatory agency, as that term is defined in section8(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
appropriate Federal banking agency; and
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon 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 27th day of February, 2004.