[¶11,743] In the Matter of James R. Brown, Hardin County Savings Bank, Eldora,
Iowa, Docket No. 00-028k (11-9-00)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $15,000.
In the Matter of
JAMES R. BROWN,
individually and as an institution-affiliated party of
HARDIN COUNTY SAVINGS BANK ELDORA, IOWA (Insured State Nonmember Bank)
ORDER TO PAY
James R. Brown ("Respondent") has been advised of his right
to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTIES, 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, unsafe or unsound banking
practices, and/or breaches of fiduciary duty for which a FINAL ORDER TO
PAY may issue. Respondent has also been advised of the right to a
hearing on the alleged charges that would be contained in the NOTICE
under section 8(i) and 18(j) of the Federal Deposit Insurance Act
("Act"), 12 U.S.C. § 1818(i) and 1828(j), 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 AND CONSENT TO
THE ISSUANCE OF AN ORDER TO PAY ("CONSENT AGREEMENT") with a
representative of the Legal Division of the FDIC, whereby solely for
the purpose of resolving this proceeding and without admitting or
denying any violations, unsafe or unsound banking practices, and/or any
breaches of fiduciary duty, Respondent consented to the issuance of the
ORDER TO PAY ("ORDER") by the FDIC and consented and agreed to
pay a civil money penalty in the amount of $15,000 to the United States
SENT AGREEMENT, the appropriateness of the penalty with respect to the financial resources
and good faith of Respondent, the gravity of the violations by
Respondent, any history of previous violations by Respondent, and such
other matters as justice requires.
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
ORDER TO PAY
IT IS HEREBY ORDERED that Respondent shall be assessed and shall
pay a civil money penalty in the amount of $15,000 by certified or
cashier's check made payable to the Treasury of the United States, the
receipt of which is hereby acknowledged.
IT IS FURTHER ORDERED that Respondent is prohibited from seeking or
accepting indemnification from any insured depository institution (i)
for the civil money penalty assessed and paid in this matter, or (ii)
for any expenses, including attorneys' fees and disbursements,
incurred by Respondent in connection with this matter.
This ORDER will become effective ten days after its issuance. The
provisions of this ORDER will remain effective and enforceable except
to the extent that, and until such time as, any provision of this ORDER
shall have been modified, terminated, suspended, or set aside by the
Pursuant to delegated authority.
Dated at Washington, D.C., this 9th day of November, 2000.