FDIC Makes Public August Enforcement Actions; Two Administrative Hearings are Scheduled for October
FOR IMMEDIATE RELEASE
September 26, 2008
(202) 898-3876 (office)
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August. Two administrative hearings are scheduled.
The FDIC processed a total of 30 orders in August. These included 11 cease and desist orders; five removal and prohibition orders; seven civil money penalties; one voluntary termination of insurance; and six orders to terminate an order to cease-and-desist.
Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA (telephone 703-562-2200 or 1-877-275-3342). To view all 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(b), 12 U.S.C. § 1818(b) (Cease-and-Desist)
ADMINISTRATIVE HEARINGS SCHEDULED FOR OCTOBER 2008
Citizens Bank and Trust Company of Chicago, Chicago, Illinois; In the Matter of Robert Michael and George Michael, individually and as institution affiliated parties; FDIC-03-106e & FDIC-03-107k
October 14, 2008
Hon. C. Richard Miserendino
Administrative Law Judge
Everett McKinley Dirksen United States Courthouse, Court 760
7th Floor, 219 South Dearborn
Chicago, Illinois 60604
Jann L. Harley, Senior Litigator and Advisor
Chicago Regional Office
InterState Net Bank, Cherry Hill, New Jersey, n/k/a ISN Bank, Cherry Hill, New Jersey; In the Matter of Hal J. Shaffer, individually and as an institution affiliated party; FDIC-06-201e & FDIC-06-202k
October 30, 2008
John S. Stevens, Counsel – Senior Litigator and Advisor
Chicago Regional Office
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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 8,451 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, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-87-2008