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[¶11,948] In the Matter of Enterprise Bank, Clayton, Missouri, Docket No. 02-027k
(7-8-02).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $5,150.
In the Matter of
ENTERPRISE BANK
CLAYTON, MISSOURI
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-02-027k
Enterprise Bank, Clayton, Missouri ("Bank") 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 Bank pursuant to the Flood
Disaster Protection Act of 1973 ("Flood Act"), as amended, 42
U.S.C. §4012a, section 8(i)(2) of the Federal Deposit Insurance Act
("FDI Act"), 12 U.S.C. §1818(i)(2), 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 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 $5,150 related to the violations of the Flood Act, 42
U.S.C. §4012a, and Part 339 of the FDIC Rules and Regulations, 12
C.F.R. Part 339, cited at the FDIC's July 31, 2000, examination, in
that it has made increased, extended or renewed loans secured by a
building or mobile home located or to be located in a special flood
hazard area without requiring that the collateral be covered by flood
insurance; it has made, increased, extended or renewed loans secured by
a building or mobile home located or to be located in a special flood
hazard area without requiring sufficient flood insurance; it has made
increased, extended
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or renewed loans secured by a building or mobile
home located or to be located in a special flood hazard area without
providing notice regarding the availability of flood insurance under
the Act; and it has failed to force-place flood insurance as required
in instances where the collateral was not covered by flood insurance at
some time during the term of the loan.
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 $5,150 is appropriate to
be assessed against the Bank, pursuant to the Flood Act, 42 U.S.C.
§4012a, section 8(i)(2) of the FDI Act, 12 U.S.C. §1818(i)(2),
and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339.
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that the Bank be, and hereby is, assessed a
civil money penalty of $5,150 pursuant to the Flood Act, 42 U.S.C.
§4012a, section 8(i)(2) of the FDI Act, 12 U.S.C. §1818(i)(2),
and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, the
receipt of which is acknowledged.
This ORDER TO PAY CIVIL MONEY PENALTY shall be effective upon its
issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 8th day of July, 2002.
