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FDIC Enforcement Decisions and Orders |
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FDIC Board accepts administrative law judge's recommendation and issues a default decision and order of prohibition based on uncontroverted evidence of respondent's participation in numerous violations involving personal dishonest, and willful and continuous disregard for the bank's safety and soundness.
[.1] ProhibitionNotice of Intention to ProhibitFailure to Answer
[.2] Practice and ProcedureAnswerFailure to AnswerProhibition Proceedings
In the Matter of
{{5-31-93 p.A-2193}}
This proceeding, brought by the Federal Deposit Insurance Corporation ("FDIC"), seeks removal of David D. McCune and Dana E. Payne ("Respondents"), individually and as institution-affiliated parties participating in the conduct of the affairs of Community State Bank, Iola, Texas ("Bank"), for extending credit utilizing allegedly forged bank notes.
[.1, .2] Section 308.19(a) of the FDIC Rules and Regulations provides that "[r]espondent shall file an answer as designated in the notice . . ."
Default. - (1) Effect of failure to answer. Failure of a respondent to file an answer required by this section within the time provided constitutes a waiver of his or her right to appear and contest the allegations in the notice.
For the reasons set forth above, the Board hereby adopts and incorporates by reference the allegations contained in the Notice and the ALJ's Recommended Decision on Default and enters the following Order of Prohibition From Further Participation.
For the reasons set forth in the above Decision, and pursuant to section 8(e) of the FDI Act, 12 U.S.C. §1818(e), the Board of the FDIC hereby ORDERS that:
/s/ Hoyle L. Robinson
In the Matter of
ARTHUR L. SHIPE, Administrative Law Judge
/s/ Arthur L. Shipe |
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Last Updated 6/6/2003 | legal@fdic.gov |