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


{{7-31-04 p.C-6083}

   [12,205] In the Matter of Oconee State Bank, Watkinsville, Georgia, Docket No. 04-079k (5-11-04).

   Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $4,500.

In the Matter of
OCONEE STATE BANK
WATKINSVILLE, GEORGIA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY

FDIC-04-079k

   OCONEE STATE BANK, WATKINSVILLE, GEORGIA ("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 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) of the 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
{{7-31-04 p.C-6084}

   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 $4,500.00, related to its inaccurate submission of the application and loan data for calendar years 2001 and 2002 as 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 regulation for which a civil money penalty of FOUR THOUSAND FIVE HUNDRED DOLLARS ($4,500.00) 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 AGREEMENT and issued the following:

ORDER TO PAY CIVIL MONEY PENALTY

   IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a civil money penalty of $4,500.00 pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2), the receipt of which is hereby acknowledged.

   Pursuant to delegated authority.

   Dated this 11th day of May, 2004.

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

Last Updated 8/29/2004 legal@fdic.gov