ENFORCEMENT ACTIONS.The Federal Reserve Board on March 29, 2001, announced the issuance of a consent order of assessment of civil money penalty against First Community Bank, Conway, Arkansas Conway is the largest city and county seat of Faulkner CountyGR6, Arkansas. A 2005 special census indicated the population had risen to 52,430 . It is part of the Little Rock-North Little Rock-AR Metropolitan Statistical Area. , a state member bank. First Community Bank, without admitting to any allegations, consented to the issuance of the order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The order requires First Community Bank to pay a civil money penalty of $2,000.
The Federal Reserve Board on March 26, 2001, announced that a public administrative hearing administrative hearing n. a hearing before any governmental agency or before an administrative law judge. Such hearings can range from simple arguments to what amounts to a trial. There is no jury, but the agency or the administrative law judge will make a ruling. would commence on April 2, 2001, in connection with an enforcement action against Oren L. Benton, the former sole shareholder and a director of The Professional Bank, a former state member bank, and Edward D. Scott, a former executive vice president and director of the bank.
The hearing was scheduled to be held before an administrative law judge administrative law judge n. a professional hearing officer who works for the government to preside over hearings and appeals involving governmental agencies. They are generally experienced in the particular subject matter of the agency involved or of several agencies. to determine whether Messrs. Benton and Scott should be permanently barred from the banking industry and whether the Board should assess a fine of $1.25 million against Mr. Benton and a fine of $75,000 against Mr. Scott.
The notice alleges that Messrs. Benton and Scott violated laws and regulations, engaged in unsafe or unsound unsound
said of an animal, usually a horse, which has been examined for soundness and found to be unsatisfactory. banking practices, and breached their fiduciary duty to the bank when they caused the bank to violate section 23A of the Federal Reserve Act and the Board's Regulation O.
The Federal Reserve Board on March 16, 2001, announced the execution of a written agreement by and between USABancShares.com, Inc., Philadelphia, Pennsylvania, and the Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. .
The Federal Reserve Board announced on March 14, 2001, the issuance of a final decision and order dismissing an enforcement action brought against Guillaume Henri Andre Fonkenell, a former institution-affiliated party of Bankers Trust Company, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York.