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[¶11,941] In the Matter of Tolland Bank, Vernon, Connecticut, Docket No. 02-059k
(6-10-02).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $4,000.
In the Matter of
TOLLAND BANK
VERNON, CONNECTICUT
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-02-059k
Tolland Bank ("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 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) of the Act, 12 U.S.C.
§1818(i), 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 any violations, Respondent consented
and agreed to pay a civil money penalty in the amount of $4,000.00,
related to its inaccurate submission of the application and loan data
for calendar year 2000 required by HMDA.
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 four thousand dollars
($4,000.00) 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:
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ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is,
assessed a civil money penalty of $4,000.00 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 10th day of June, 2002.