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FDIC Enforcement Decisions and Orders |
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Executive officer and director prohibited from participation in any capacity in the affairs of, and the exercise of voting rights in, any insured bank.
[.1] Prohibition, Removal, or SuspensionNotice of Intention to Prohibit Failure to Answer
[.2] ProhibitionParticipation in Affairs of any Insured Bank
In the Matter of
I. Procedural History
This proceeding, brought by the Federal Deposit Insurance Corporation ("FDIC"), seeks to remove * * * ("Respondent") in his capacity as an executive officer, a director, and as a person participating in the affairs of * * * Bank * * * (the "Bank"), pursuant to section 8(e) of the Federal Deposit Insurance Act (the "FDI Act"), 12 U.S.C. §1818(e).
II. REGULATORY PROVISIONS
[.1] Section 308.06(a) of the FDIC Regulations, 12 C.F.R. §308.06(a), provides:
ORDER
[.2] IT IS HEREBY ORDERED, that * * * is prohibited from serving or acting as a director, officer, or employee of, or participating in any manner in the conduct of the affairs of, any bank insured by the FDIC without the prior written approval of the appropriate Federal banking agency as that term is defined in section 3(q) of the Act, 12 U.S.C. §1813(q).
[.3] IT IS FURTHER ORDERED, that * * * is prohibited from voting for a director of any bank insured by the FDIC without the prior written approval of the appropriate Federal banking agency. |
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Last Updated 6/6/2003 | legal@fdic.gov |