[¶12,148] In the Matter of Kenneth B. Osborn, Benjamin Franklin Savings Bank,
Franklin, Massachusetts, Docket No. 03-187k (2-11-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $25,000.
In the Matter of
KENNETH B. OSBORN,
individually and as an institution-affiliated party of,
BENJAMIN FRANKLIN SAVINGS BANK FRANKLIN, MASSACHUSETTS (Insured State Nonmember Bank)
ORDER TO PAY
Kenneth B. Osborn ("Respondent") and a representative of the
Legal Division of the Federal Deposit Insurance Corporation
("FDIC") executed a Stipulation and Consent to the Issuance of an
Order to Pay ("CONSENT AGREEMENT") dated December 5, 2003,
whereby Respondent, solely for the purpose of this proceeding and
without admitting or denying any violation of law for which civil money
penalties may be assessed, consented and agreed to pay civil money
penalties in the amount specified below to the Treasury of the United
After taking into account the CONSENT AGREEMENT, the appropriateness of
the penalty with respect to the financial resources and good faith of
Respondent, the gravity of the violation by Respondent, the history of
previous violations by Respondent, and such other matters as justice
may require, the FDIC accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the violations set forth
in paragraph 3 of the CONSENT AGREEMENT, a penalty of $25,000 be, and
hereby is, assessed against Kenneth B. Osborn. The Respondent shall pay
the civil money penalty to the Treasury of the United States.
IT IS FURTHER ORDERED that the Respondent is prohibited from seeking or
accepting indemnification from any insured depository institution for
the civil money penalty assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 11th day of February, 2004.