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FDIC Enforcement Decisions and Orders

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{{4-30-04 p.C-5990}}

   [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.
{{4-30-04 p.C-5991}}

In the Matter of
individually and as an institution-affiliated party of,
(Insured State Nonmember Bank)


   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 States.

   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 following:


   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.

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Last Updated 5/13/2004

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