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FDIC Enforcement Decisions and Orders |
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FDIC entered an order to pay a civil money penalty against a bank director who failed to answer a Notice of Assessment. The director's failure to answer is deemed an admission of the allegations in the Notice of Assessment.
[.1] Civil Money PenaltiesNotice of AssessmentTime to Answer
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In the Matter of * * * ,
In a proceeding in which Respondent * * * failed to answer, the Administrative Law Judge recommended assessment of a civil money penalty in the amount of $2,000, pursuant to Section 18(j)(3) of the Federal Deposit Insurance Act (12 U.S.C. § 1828(j)(3)). (See Recommended Decision and Order dated June 30, 1985.)
RECOMMENDED DECISION
FDIC-85-54k
Statement of the Case
This proceeding was initiated pursuant to section 18(j)(3) of the Federal Deposit Insurance Act ("Act") (12 U.S.C. § 1828(j)(3)). A written Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law, and Order to Pay ("Notice of Assessment") was issued by direction of the Board of Review, acting under authority delegated by the Board of Directors of the Federal Deposit Insurance Corporation ("FDIC"), on March 6, 1985. The Notice of Assessment ordered that a civil money penalty be assessed against * * * ("Respondent") in the amount of $2,000 and ordered payment thereof. The Notice of Assessment was issued under the provisions of the Act (12 U.S.C. §§ 1811 1831) and the FDIC's Rules of Practice and Procedures (12 C.F.R. Part 308).
Statement of Facts
By letter dated March 15, 1985, and received by the Office of the Executive Secretary of the FDIC on March 25, 1985, Respondent filed a request for hearing on the charges in the Notice of Assessment pursuant to section 308.69 of FDIC's Rules of Practice and Procedures (12 C.F.R. § 308.69).
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[.1,.2] Section 308.06(a) of FDIC's Rules of Practice and Procedures (12 C.F.R. § 308.06(a)) provides in part that "every party to a proceeding shall file an answer with the Executive Secretary within 20 days after service of the notice of hearing upon the party afforded the hearing...."
Recommended Order
After taking into account the appropriateness of the penalties with respect to Respondent's financial resources and good faith, the gravity of his violations, the history of his previous violations, and such other matters as justice may require, and in view of the findings of fact and conclusions of law, it is recommended that the FDIC issue the following:
NOTICE OF ASSESSMENT OF CIVIL
FDIC-85-54k
NOTICE OF ASSESSMENT OF CIVIL
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ORDER TO PAY
After taking into account the appropriateness of the penalties with respect to the financial resources and good faith of * * * , the gravity of the violations of each Respondent, the history of previous violations of each Respondent, and such other matters as justice may require, it is:
NOTICE OF HEARING FDIC-85-54k
WHEREAS, on March 6, 1985, the Board of Review of the Federal Deposit Insurance Corporation ("FDIC") issued a Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law, and Order to Pay ("Notice of Assessment") under section 18(j)(3) of the Federal Deposit Insurance Act ("Act") (12 U.S.C. § 1828(j)(3)) against * * * individually, and as directors of the * * * Bank, * * *; and |
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Last Updated 6/6/2003 | legal@fdic.gov |