FDIC MAKES PUBLIC JULY ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE PR-95-2002 (8-30-2002)
Media Contact: Frank Gresock (202) 898-6634
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled for September.
The FDIC processed a total of 10 orders in July. These included three cease-and-desist orders, five civil money penalty orders, and one termination of a cease-and-desist order, and one call report penalty.
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. (telephone (703) 562-2200 or 800-276-6003). The orders will also be made available on-line within a week of the issuance of this news release. To view the orders on-line, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Western State Bank, Duarte, CA; FDIC-02-110b; Issued 7/18/02
Stockmans Bank, Elk Grove, CA; FDIC-02-104b; Issued 7/31/02
First Security Bank & Trust, McLean, Island, KY; FDIC-02-065b; Issued 7/5/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)
First Mariner Bank, Baltimore, MD; FDIC-02-076k; Order to Pay Civil Money Penalty in the amount of $7,000; Issued 7/15/02
The Columbia Bank, Columbia, MD; FDIC-02-040k; Order to Pay Civil Money Penalty in the amount of $7,000; Issued 7/19/02
Enterprise Bank, Clayton, MO; FDIC-02-027k; Order to Pay Civil Money Penalty in the amount of $5,150; Issued 7/8/02
The Poca Valley Bank, Inc., Walton, WV; FDIC-02-011k; Order to Pay Civil Money Penalty in the amount of $5,500; Issued 7/10/02
Wauwatosa Savings Bank, Wauwatosa, WI; FDIC-02-020k; Order to Pay Civil Money Penalty against Raymond Perry in the amount of $16,000; Issued 7/10/02
TERMINATION OF CEASE-AND-DESIST ORDER
Metropolitan Bank, Oakland, CA; FDIC-01-066b; Issued 7/22/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. § 1817(a)
(Call Report Penalty)
Ouachita Independent Bank, Monroe, LA; CR-02-0202-001; Stipulation and Consent Order to Pay $2,100; Issued 7/16/2002
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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 9,538 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. The FDIC receives no federal tax dollars-insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).