[¶11,859] In the Matter of American Bank & Trust, Edmond, Oklahoma, Docket No.
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,650.
In the Matter of
AMERICAN BANK & TRUST EDMOND, OKLAHOMA (Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
American Bank & Trust, Edmond, Oklahoma ("Bank") has been
advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY
PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, 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 Bank pursuant to the Flood Disaster
Protection Act ("Flood Act"), as amended, 42 U.S.C. §4012a,
and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, and
has been further advised of the right to a hearing on the alleged
charges under the Flood Act, 42 U.S.C. §4012a(f), section 8(i) of
the FDI Act, 12 U.S.C. §1818(i), and the FDIC Rules of Practice and
Procedure, 12 C.F.R. Part 308.
Having waived those rights, the Bank entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN ORDER TO PAY CIVIL MONEY PENALTY
("AGREEMENT") with a representative of the Legal Division of the
FDIC, whereby solely for the purpose of this proceeding and without
admitting or denying any violations, the Bank consented and agreed to
pay a civil money penalty in the amount of $1,650.00 related to its
1. Ensure there was flood insurance coverage on two out of seven
Designated Loans at the time of origination;
2. Ensure there was flood insurance coverage in the proper amount on
three Designated Loans at the time of origination; and
3. Failure to force-place flood insurance coverage on five Designated
The FDIC considered the matter and determined it had reason to
believe that the Bank has engaged or participated in violations of law
or regulations for which a civil money penalty of $1,650.00 is
appropriate to be assessed against the Bank, pursuant to the Flood Act,
42 U.S.C. §4012a, and Part 339 of the FDIC Rules and Regulations, 12
C.F.R. Part 339.
ORDER TO PAY
IT IS HEREBY ORDERED that American Bank & Trust, Edmond, Oklahoma,
be, and hereby is, assessed a civil money penalty of $1,650.00,
pursuant to the Flood Act, 42 U.S.C. §4012a, and Part 339 of the
FDIC Rules and Regulations, 12 C.F.R. Part 339, the receipt of which is
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 25th day of October, 2001.