Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders |
|||
FDIC Enforcement Decisions and Orders
{{01-31-05 p.C-12329.1}} Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $7,500. In the Matter of
Howard C. Reget ("Respondent"), has been advised of his
right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY,
FINDINGS OF FACT, AND CONCLUSIONS OF LAW, ("NOTICE") issued by
the Federal Deposit Insurance Corporation ("FDIC") stating the
violations of law, unsafe or unsound banking practices and breaches of
fiduciary duty for which an ORDER TO PAY CIVIL MONEY PENALTY ("ORDER
TO PAY") may be issued. Respondent has been further advised of his
right to a hearing on the charges under section 8(i)(2) of the Federal
Deposit Insurance Act ("Act"), 12 U.S.C. §1818(i)(2), and the
FDIC Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived
those rights, the Respondent entered a STIPULATION AND CONSENT TO THE
ISSUANCE OF AN ORDER TO PAY CIVIL MONEY PENALTY ("CONSENT
AGREEMENT") whereby Respondent, solely for the purpose of this
proceeding and without admitting or denying any violations of law and
regulations, unsafe or unsound banking practices and breaches of
fiduciary duty, consented to the issuance of an ORDER TO
PAY CIVIL MONEY PENALTY ("ORDER") by the FDIC and agreed to pay a civil money penalty in the amount of $7,500 to the Treasury of the United States ("Treasury"). 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 violations by Respondent, the history of previous violations by Respondent, and such other matters as justice requires, the FDIC accepts the CONSENT AGREEMENT and issues the following: ORDER TO PAY CIVIL MONEY PENALTY IT IS HEREBY ORDERED that a penalty in the amount of $7,500 be, and hereby is, assessed against Respondent Howard C. Reget. 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: (i) for the civil money penalty assessed and paid in this matter; or (ii) for any expenses, including attorneys' fees and disbursements, incurred by the Respondent in connection with this matter. This ORDER shall be effective upon its issuance. Pursuant to delegated authority. Dated at Washington, D.C., this 19th day of November, 2004.
|
||
Last Updated 4/16/2005 | legal@fdic.gov |