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FDIC Enforcement Decisions and Orders

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{{07-31-06 p.12600.1}}

[12,600] In the Matter of Labe Bank, Chicago, Illinois, Docket No. 06-064k (5-22-06).

Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $5,000.

In the Matter of
(Insured State Nonmember Bank)


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. §1818(i)(2).

The FDIC, therefore, accepted the AGREEMENT and issued the following:


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.

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Last Updated 9/19/2006

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