FDIC MAKES PUBLIC SEPTEMBER 1998 ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARINGS SCHEDULED FOR NOVEMBER
FOR IMMEDIATE RELEASE PR-71-98 (10-28-98)
Media Contact: Stephen Katsanos (202) 898-8669
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in September. No administrative hearings are scheduled for November.
The FDIC processed a total of eight orders in September. These included four cease-and-desist orders, one termination of a cease-and-desist-order and three call report penalties.
Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (telephone (703) 562-2200 or 800-276-6003). A list of the orders made public today follows.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. _ 1818(b)
Pan American Bank, Chicago, IL; FDIC-98-53b; Issued 9/22/98.
First Alliance Bank and Trust Company, Manchester, NH; FDIC-98-066b; Issued 9/28/98.
American State Bank, Tulsa, OK; FDIC-98-059b; Issued 9/3/98.
TERMINATIONS OF CEASE-AND-DESIST ORDERS
Regency Bank, Fresno, CA; FDIC-97-90b; Issued 9/3/98.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. _ 1817(a)
(Call Report Penalties)
First Citizens Bank, Glennville, GA; CR-98-9704-005; stipulation and consent order to pay $1,500; Issued 9/21/98.
Advanta Financial Corporation, Murray, UT; CR-96-9602-061; stipulation and consent order to pay $2,100; Issued 9/4/98.
Washington Mutual Bank, Seattle, WA; CR-98-9704-007; stipulation and consent order to pay $1,500; Issued 9/21/98.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,712 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet at www.fdic.gov
, and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).