{{10-31-04 p.12,259.1}}
[¶12,259] In the Matter of New York Community Bank, Westbury, New York, Docket
No. 04-147k (8-18-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $8,000.
In the Matter of
NEW YORK COMMUNITY BANK
WESTBURY, NEW YORK
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-04-147k
NEW YORK COMMUNITY BANK, WESTBURY, NEW YORK ("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
{{10-31-04 p.12,260.1}}
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 ("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 Eight
Thousand dollars ($8,000) related to its inaccurate submission of the
application and loan data for calendar years 2000 and 2001 as 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
regulations for which a civil money penalty of Eight Thousand Dollars
($8,000) is appropriate to be assessed against the Respondent pursuant
to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
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 violations by the Respondent, the
history of previous violations by the Respondent, and such other
matters as justice may require, the FDIC accepted the AGREEMENT and
issued the following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of Eight Thousand Dollars ($8,000) 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 this 18th day of August, 2004.