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[¶11,820] In the Matter of West Des Moines State Bank, West Des Moines, Iowa,
Docket No. 01-082k (7-26-01)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $5,000.
In the Matter of
WEST DES MOINES STATE BANK
WEST DES MOINES, IOWA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-01-082k
West Des Moines State Bank, West Des Moines, Iowa
("Respondent"), has been advised of the right to receive 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
Respondent 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)(2) of the Act,
12 U.S.C. §1818(i)(2), 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 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
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any
violations, Respondent consented and agreed to pay a civil money
penalty in the amount of five thousand dollars ($5,000.00), related to
its inaccurate submission of the application and loan data required by
HMDA for calendar years 1998 and 1999.
The FDIC considered the matter and determined it had reason to believe
that the Respondent has engaged or participated in violations of law or
regulation for which a civil money penalty of five thousand dollars
($5,000.00) is appropriate to be assessed against the Respondent
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 CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of $5,000.00 pursuant to section 8(i)(2) of the
Act, 12 U.S.C. §1818(i)(2), the receipt of which is hereby
acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 26th day of July, 2001.