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FDIC Enforcement Decisions and Orders |
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Notice of civil money penalties assessed against bank officers and directors become final after they fail to timely request a hearing. (Further proceedings in this docket appear at [¶
[.1] Practice and ProcedureHearingRequest Required
{{4-1-90 p.A-1180}}
On April 17, 1987, Respondent *** was served, by certified mail, with copies of the Notice of Assessment of Civil Money Penalties, Findings of Fact and Conclusions of Law, Order to Pay, and Notice of Hearing ("Notice of Assessment") issued on April 8, 1987, by the Board of Review of the Federal Deposit Insurance Corporation ("FDIC"). Consequently, as provided in the Notice of Assessment and section 308.69 of the FDIC Rules of Practice and Procedures, 12 C.F.R. § 308.69, a request for a hearing on behalf of Respondent *** was due to be filed by April 27, 1987. Respondent *** did not file such a request.
[.1] Section 308.70 of the FDIC Rules of Practice and Procedures, 12 C.F.R. 308.70, specifically provides that failure of a party to request a hearing within ten (10) days of receipt of the Notice of Assessment shall constitute a waiver of the party's opportunity of hearing; and in the event of a waiver pursuant to section 308.70, the "notice of assessment pursuant to §308.69(a) shall constitute a final and unappealable order." Due to the failure of Respondent *** to file a request for hearing, the Notice of Assessment issued against him has become final and unappealable.
/s/ Hoyle L. Robinson
RECOMMENDED DECISION
FDIC 87-71k
On this 27th day of July, 1987, the Motion for Recommended Decision filed by the Federal Deposit Insurance Corporation came on for hearing. The Court considered the documents on file, and the arguments of the parties pertaining to the failure and/or refusal of Respondents ***, *** and *** to file requests for hearing within ten (10) days after service of the Notice of Assessment as required by Section 308.69(b) of the FDIC Rules of Practice and Procedures, 12 C.F.R. §308.69(b), and page five of the Notice of Assessment. Based thereon, and on all relevant considerations, the Court hereby finds that these Respondents have failed to file requests for hearing within the time required by Section 308.70 of the FDIC Rules of Practice and Procedures, 12 C.F.R. §308.70. Pursuant thereto, the Court finds that these Respondents have waived their rights to a hearing and the Notice of Assessment issued against these Respondents on April 8, 1987 has become a final and unappealable Order.
/s/William A. Gershuny |
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Last Updated 6/6/2003 | legal@fdic.gov |