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


{{09-30-05 p.16428.1}}

   [16,428] In the Matter of J. Donald Weand, Jr., Connecticut Bank of Commerce, Stamford, Connecticut, Docket No. 02-176k (7-8-05).

In the Matter of
J. DONALD WEAND, JR.,
individually and as a former institution-affiliated party of
CONNECTICUT BANK OF COMMERCE
STAMFORD, CONNECTICUT
(Insured State Nonmember Bank—In Receivership)
ORDER DISMISSING CERTAIN CHARGES AGAINST J. DONALD WEAND, JR.

FDIC-02-176k

On November 22, 2002, the Federal Deposit Insurance Corporation ("FDIC") commenced these proceedings against Respondent J. Donald Weand, Jr. ("Weand"), former president and chief executive officer of Connecticut Bank of Commerce, Stamford, Connecticut ("CBC"), in receivership, through issuance of a Notice of Intention to Prohibit From Further Participation; Notice of Charges for Orders of Restitution and Other Appropriate Relief; Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law; Order to Pay; and Notice of Hearing.

Weand and the FDIC entered into a Settlement and Release Agreement ("Agreement")
{{09-30-05 p.16429.1}}

dated June 9, 2005, in which Weand agreed to stipulate and consent to the issuance of an Order of Prohibition from Further Participation pursuant to section 8(e) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e), the issuance of an Order for Restitution requiring Weand to pay restitution in the amount of $76,500 (the "Restitution Amount") to the FDIC as receiver for the CBC, and to pay the Restitution Amount. As part of the Agreement, the FDIC agreed to dismiss the Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law; Order to Pay; and Notice of Hearing as to Weand upon his stipulation and consent to the issuance of the Order of Prohibition from Further Participation and the Order for Restitution and payment of the Restitution Amount.

On June 9, 2005, Weand stipulated and consented to the issuance of an Order of Prohibition from Further Participation and an Order for Restitution.

Weand has paid the Restitution Amount in accordance with the Agreement and the Order for Restitution.

Accordingly, it is hereby ORDERED that the Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law; Order to Pay; and Notice of Hearing are dismissed with prejudice as to Respondent J. Donald Weand, Jr., only.

Pursuant to delegated authority.

Dated this 8th day of July, 2005.



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






Last Updated 11/10/2005 legal@fdic.gov