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FDIC Enforcement Decisions and Orders
Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $12,000.
In the Matter of
FIRST BANK, TROY, NORTH CAROLINA ("Bank"), has been
advised of the right to 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 Bank 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 Bank entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN ORDER TO PAY A 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, the Bank consented and
agreed to pay a civil money penalty in the amount of twelve thousand
dollars ($12,000.00), related to its excessive number of reportable
loans omitted from the 2001, 2002 and 2003 HMDA Loan Application
Registers as required by HMDA. The FDIC considered the matter and
determined it had reason to believe that the Bank has engaged or
participated in violations of law or regulation for which a civil money
penalty of twelve thousand dollars ($12,000.00) is appropriate to be
assessed against the Bank
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:
ORDER TO PAY A CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Bank be, and hereby is, assessed a civil
money penalty of $12,000.00 pursuant to section 8(i)(2) of the Act, 12
U.S.C. §1818(i)(2), the receipt of which is hereby acknowledged.
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