FDIC MAKES PUBLIC SEPTEMBER ENFORCEMENT ACTIONS;
ONE ADMINISTRATIVE HEARING SCHEDULED
FOR IMMEDIATE RELEASE
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 September. One administrative hearing is scheduled for November.
The FDIC processed a total of seven orders in September. These included one cease-and-desist order, four civil money penalties, 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 ORDER ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Farmers and Merchants Bank, Trezevant, TN; FDIC-01-069b; Issued 9/18/01
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)
Bank of Commerce, Chanute, KS; FDIC-01-107k; Order to Pay Civil Money Penalty in the amount of $1,200; Issued 9/3/01
The Bank of Harlan, Harlan, KY; FDIC-01-008k; Order to Pay Civil Money Penalty in the amount of $2,600; Issued 9/14/01
Hudson Savings Bank, Hudson, MA; FDIC-01-092k; Order to Pay Civil Money Penalty in the amount of $1,350; Issued 9/27/01
Ranchers Banks, Belen, NM; FDIC-01-096k; Order to Pay Civil Money Penalty in the amount of $35,950; Issued 9/24/01
FINAL ORDER ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. § 1817(a)
(Call Report Penalty)
The Philadelphia Trust Company, Philadelphia, PA; CR-01-0004-005; Stipulation and Consent Order to Pay $1,344; Issued 9/12/01
Cease-and Desist Order
Peoples Bank of Mendenhall, Mendenhall, MS; FDIC-00-012b; Issued 9/27/01
ADMINISTRATIVE HEARING SCHEDULED FOR NOVEMBER 2001
First International Bank, Chula Vista, CA; FDIC-01-089b; Section 8(b) Proceeding
November 12, 2001
San Diego, CA
Lou DiPietro, Senior Attorney
San Francisco Regional Office, and
Michael Gillaspie, Counsel Senior Litigator
Kansas City Regional Office
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 9,747 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 via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).