[¶12,600] In the Matter of Labe Bank, Chicago, Illinois, Docket No. 06-064k
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $5,000.
In the Matter of
LABE BANK CHICAGO, ILLINOIS (Insured State Nonmember Bank)
ORDER TO PAY
Labe Bank, Chicago, Illinois ("Respondent"), has been
advised of the right to review a NOTICE OF ASSESSMENT OF CIVIL MONEY
PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND
NOTICE OF HEARING 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 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 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 ("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, Respondent consented and agreed to pay a
civil money penalty in the amount of $5,000 related to its inaccurate
submission of the application and loan data for calendar year 2004, as
required by HMDA.
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 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
five thousand dollars ($5,000) is appropriate to be assessed against
the Respondent pursuant to section 8(i)(2) of the Act, 12 U.S.C.
The FDIC, therefore, accepted the AGREEMENT and issued the following:
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the violations set forth
in paragraph 2 of the CONSENT AGREEMENT, a penalty of $5,000.00 be, and
hereby is, assessed against the Respondent. The Respondent shall pay
the civil money penalty to the Treasury of the United States.
This ORDER TO PAY shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 22nd day of May, 2006.