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FDIC Enforcement Decisions and Orders |
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Respondent is prohibited from participating in the conduct of affairs
of or exercising voting rights in, any insured institution without the
prior written approval of the FDIC. Respondent also agrees to pay civil
money penalty assessed by the FDIC in the amount of $7,500.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights,
exercise of
In the Matter of
Gloria G. Helms ("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION AND ASSESSMENT OF CIVIL MONEY PENALTY issued by the
Federal Deposit Insurance Corporation ("FDIC") detailing the
violations of law or regulations, unsafe or unsound banking practices,
and/or breaches of fiduciary duty for which an ORDER OF PROHIBITION
FROM FURTHER PARTICIPATION AND ORDER TO PAY CIVIL MONEY PENALTY
("ORDER") may issue, and has been further advised of the right to
a hearing on the alleged charges under sections 8(e) and 8(i) of the
Federal Deposit Insurance Act ("Act"), 12 U.S.C. §§ 1818(e),
(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 OF PROHIBITION FROM
FURTHER PARTICIPATION AND 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, unsafe or unsound
banking practices, and/or breaches of fiduciary duty, Respondent
consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in violations,
unsafe or unsound banking practices, and/or breaches of fiduciary duty
as an institution-affiliated party of Peoples Community Bank, Columbia,
Alabama ("Bank");
(b) By reason of such violations, practices, and/or breaches of
fiduciary duty, the Bank has suffered more than minimal financial loss
or other damage, and/or the interests of the Bank's depositors have
been or could be prejudiced; and
(c) Such violations, practices, and/or breaches of fiduciary duty on
the part of Respondent demonstrate Respondent's willful and/or
continuing disregard for the safety or soundness of the Bank.
The FDIC further determined that such alleged violations,
practices, and/or breaches of fiduciary duty demonstrate the
Respondent's unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
Furthermore, the FDIC, after taking into account the CONSENT AGREEMENT,
the appropriateness of the penalty with respect to the financial
resources and good faith of the Respondent, the gravity of the alleged
violations, practices, and/or breaches of fiduciary duty committed by
Respondent, the history of previous violations by Respondent, and such
other matters as justice may require, the FDIC accepted the Consent
Agreement and issued the following:
1. Gloria G. Helms is hereby, without the prior written approval
of the FDIC and the appropriate Federal financial institutions
regulatory agency, as that term is defined in section 8(e)(7)(D) of the
Act, 12 U.S.C. §1818(e)(7)(D) prohibited from:
[.1] (a) participating in any manner in the conduct of the affairs of
any financial institution or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2] (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. Gloria G. Helms is hereby assessed a civil money penalty of
$7,500.00 payable in certified funds to the Treasurer of the United
States; and 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.
3. This ORDER will become effective upon its issuance by the FDIC. The
provisions of this ORDER will remain effective and enforceable except
to the extent that, and until such time as, any provision of this ORDER
shall have been modified, terminated, suspended, or set aside by the
FDIC.
Pursuant to delegated authority.
Dated this 5th day of May, 2004.
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