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FDIC Enforcement Decisions and Orders
Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $1,500.
In the Matter of
Melvin B. Darby ("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 of laws and regulations for which a civil money penalty may be assessed against Respondent, and has been further advised of the right to a hearing on the alleged charges under section 8(i) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(i), and the FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.
Having waived those rights, Respondent entered into a STIPULATION AND CONSENT TO THE 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 any violations of laws or regulations for which civil money penalties may be assessed, Respondent consented and agreed to pay a civil money penalty in the amount of $1,500.00.
The FDIC considered the matter and determined that it had reasons to believe Respondent had violated and/or caused the Bank to violate laws and regulations for which a civil money penalty of $1,500.00 is appropriate to be assessed against Respondent pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that a penalty of $1,500.00 be, and hereby is, assessed against Melvin B. Darby pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
IT IS FURTHER ORDERED that Melvin B. Darby shall pay said penalty, in its entirety, upon issuance of the ORDER TO PAY.
IT IS FURTHER ORDERED that said penalty shall be paid in the form of a certified check made payable to the Treasurer of the United States, pursuant to section 308.118 of the FDIC Rules and Regulations, 12 C.F.R. §308.118.
IT IS FURTHER ORDERED that said check shall be forwarded to the Federal Deposit Insurance Corporation at 5100 Poplar Avenue, Suite 1900, Memphis, Tennessee 38137.
Pursuant to delegated authority.
Dated at Washington, D.C., this 22nd day of October, 2004.
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