Press Releases FDIC Issues Suspension and Prohibition Orders Against Two Bankers
FOR IMMEDIATE RELEASE PR-82-2004 (8-13-2004)
Media Contact: Frank Gresock (202-898-6634)
The Federal Deposit Insurance Corporation (FDIC) today issued notices and orders of suspension and prohibition against two individuals pursuant to Section 8(g) of the Federal Deposit Insurance Act. Both individuals entered into stipulation and consent agreements; therefore, no administrative hearings are scheduled.
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 877-275-3342). The orders will also be made available online within a week of the issuance of this news release. To view the orders online, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.
Final Orders Issued Pursuant To Section 8(G), 12 U.S.C. 1818(G)
(Suspension and Prohibition Orders)
NorCrown Bank, Livingston, New Jersey; FDIC-04-167g; against Charles Kushner; Issued 8/13/2004
Garden City Bank, Garden City, Missouri; FDIC-04-172g; against Kenneth M. Matzdorff; Issued 8/13/2004
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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 9,116 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 and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).