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FDIC Enforcement Decisions and Orders |
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FDIC prohibited a participant in the conduct of the affairs of a bank from further participation in such affairs when the participant failed to file an answer to the charges, and failed to make an appearance in a removal proceeding.
[.1] Prohibition, Removal, or SuspensionFailure to Answer Notice of Intention
[.2] Practice and ProcedureWaiver of Right to Appear
In the matter of * * *
FINDINGS OF FACT AND
[.1.2] Under Section 8(e)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4)) and Section 308.06(d) of the regulations of the FDIC (12 C.F.R. 308.06(d)), failure of an individual to enter an appearance in a removal proceeding is deemed to represent a consent by the individual to an order of removal. In light of the Respondent's failure to file an answer to the Notice, therefore, he is deemed to have waived his right to appear and contest the allegations of the Notice. He is further deemed to have consented to an order of prohibition from participation.
FINAL ORDER OF PROHIBITION
NOW. THEREFORE, IT IS HEREBY ORDERED, pursuant to sections 8(e)(2) and 8(e)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(2) and 1818(e)(4)), that, except with the prior written consent of the Regional Director of the * * * Region of the FDIC and the * * * Commissioner of Banks and Trust Companies, * * * is prohibited from participating in any manner in the conduct of the affairs of * * *.
Hoyle L. Robinson
{{4-1-90 p.A-58}}
RECOMMENDED DECISION AND
Dated December 18, 1980
* * * found to be in violation of Section 8(e) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)). Order recommended removing * * * from participation in conduct of the affairs of the * * * Bank.
Before Walter J. Alprin, Administrative
The Federal Deposit Insurance Corporation, hereinafter the Corporation, instituted this proceeding pursuant to Section 8(e) of the Federal Deposit Insurance Act (Act), 12 U.S.C. 1818(e), through service of a Notice of Intention to Remove From Participation in Conduct of the Affairs of Bank, on October 27, 1980. An answer, as required by Section 308.06 of the Corporation's Rules and Regulations (12 CFR 308.06) has not been filed, and pursuant to motion made by the Corporation, and herewith granted, as authorized and required by 12 CFR 308.06(d), the following Findings of Fact and Conclusions of Law, and Recommended Order, is filed with the Corporation's Executive Secretary without further notice to the party.
FINDINGS OF FACT
1. The * * * Bank, hereinafter the Bank, of * * *, is a corporation organized, existing and doing business under the laws of the State of * * *, and has been at all times mentioned herein and is, an insured State nonmember bank.
CONCLUSIONS OF LAW
(A) * * * is a person participating in the conduct of the affairs of an insured Bank, and the Corporation has jurisdiction over the Bank and over the actions of respondent * * * as such person.
RECOMMENDED ORDER OF REMOVAL FROM OFFICE AND PROHIBITION TO PARTICIPATE IN BANK AFFAIRS
The Board of Directors of the Federal Deposit Insurance Corporation, finding upon the record herein that each and every ground specified in the notice of hearing has, as stated in the Conclusions of Law herein, been established, and pursuant to Section 8(e) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)) and 12 C.F.R. 308.43, 308.44 and 308.45, the said Board does hereby
CERTIFICATE OF SERVICE
Pursuant to Sec. 308.21(b) of the Rules of Practice and Procedures of the Federal Deposit Insurance Corporation (12 C.F.R. 308.21 (b)), I hereby certify that the original hereof was filed with the Executive Secretary of the Corporation by mailing same to him, at 550 17th Street, NW, Washington, DC 20429, and copies hereof served on * * *, Regional Counsel for the Corporation, * * * Counsel for the Corporation, * * *
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