Enforcement actions.Assessments of Civil Money Penalties. The Federal Reserve Board announced on April 21, 2005, the issuance of a consent order of assessment of a civil money penalty against the Irwin Union Bank, Columbus, Indiana Columbus (IPA: [kəˈlʌm.bəs]) is the county seat of Bartholomew County, Indiana. The population was 39,059 at the 2000 census. The current mayor is Fred Armstrong. , a state member bank. Irwin Union 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 Flood insurance denotes the specific insurance coverage against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands and floodplains that are susceptible to flooding. Act. The order requires Irwin Union Bank to pay a civil money penalty of $22,300, which will be remitted to the Federal Emergency Management Agency The Federal Emergency Management Agency (FEMA) is the federal agency responsible for coordinating emergency planning, preparedness, risk reduction, response, and recovery. The agency works closely with state and local governments by funding emergency programs and providing technical for deposit into the National Flood Mitigation Fund. The Federal Reserve Board announced on April 21, 2005, the issuance of a consent order of assessment of a civil money penalty against The Bank, Warrior, Alabama Warrior is a city in Jefferson County, Alabama, United States. At the 2000 census the population was 3,169. History The community was named for the Warrior Coal Fields, which opened in 1872. Its name was originally Warrior Station. , a state member bank. The 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 The Bank to pay a civil money penalty of $46,050, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board announced on June 9, 2005, the issuance of a consent order of assessment of a civil money penalty against the Bank of Pontiac, Pontiac, Illinois Pontiac is a city in Livingston County, Illinois, United States. The population was 11,864 at the 2000 census. It is the county seat of Livingston County.GR6 As of June 2007, the mayor of Pontiac is Scott H. McCoy[1]. , a state member bank. The Bank of Pontiac, 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 the Bank of Pontiac to pay a civil money penalty of $32,550, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board announced on June 9, 2005, the issuance of a consent order of assessment of a civil money penalty against the First Bank and Trust Company, Lebanon, Virginia, a state member bank. The First Bank and Trust Company, 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 the First Bank and Trust Company to pay a civil money penalty of $7,750, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board announced on July 6, 2005, the issuance of a consent order of assessment of a civil money penalty against the Frontier Bank, Everett, Washington, a state member bank. Frontier 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 Frontier Bank to pay a civil money penalty of $12,500, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board announced on July 6, 2005, the issuance of a consent order of assessment of a civil money penalty against the Security Bank, Ralls, Texas, a state member bank. Security 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 Security Bank to pay a civil money penalty of $3,250, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. Written Agreements The Federal Reserve Board announced on April 25, 2005, the execution of a written agreement by and between the Civitas BankGroup, Inc., Franklin, Tennessee, and the Federal Reserve Bank of Atlanta The Federal Reserve Bank of Atlanta is responsible for the 6th District of the Federal Reserve, which covers Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. . The Federal Reserve Board announced on April 29, 2005, the execution of a written agreement by and among Banco Industrial de Venezuela, C.A., Caracas, Venezuela; Banco Industrial de Venezuela, C.A. 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 Agency, New York, New York; Banco Industrial de Venezuela, C.A. Miami Agency, Miami, Florida; the New York State Banking Department, New York, New York; the State of Florida Office of Financial Regulation, Tallahassee, Florida; the Federal Reserve Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. ; and the Federal Reserve Bank of Atlanta. The Federal Reserve Board announced on July 14, 2005, the execution of a written agreement by and among the First Citizens Bank of Butte Butte, city, United States Butte (by  t), city (1990 pop. 33,336), seat of Silver Bow co., SW Mont.; inc. 1879. It is a trade, ranching, and industrial center. , Butte, Montana; the Montana Division of Banking and Financial Institutions; and the Federal Reserve Bank of Minneapolis The Federal Reserve Bank of Minneapolis covers the 9th District of the Federal Reserve, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan. . Final Decisions and Orders The Federal Reserve Board announced on May 13, 2005, the issuance of a final decision and order of prohibition against Donald K. McKinney, a former vice president of American National Bank, Wichita Falls, Texas Wichita Falls is a city in Wichita County, Texas, United States. As of the 2000 census, the city had a total population of 104,197. It is the principal city of the Wichita Falls Metropolitan Statistical Area, which encompasses all of Archer, Clay and Wichita counties. . The order, the result of an action brought by the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. , prohibits Mr. McKinney from participating in the conduct of the affairs of any financial institution or holding company. The Federal Reserve Board announced on June 7, 2005, the issuance of a final decision and cease and desist order An order issued by an Administrative Agency or a court proscribing a person or a business entity from continuing a particular course of conduct. The force and effect of a cease and desist order are similar to those of an Injunction issued by a court. against eighteen former institution-affiliated parties of First Western Bank, Cooper City, Florida Cooper City is a city in Broward County, Florida, United States. The city is named for Morris Cooper, who founded the community in 1959. The US Census Bureau estimated the city's population at 30,032 on 1 July 2006. , and an order of prohibition against Carl V. Thomas, one of the former institution-affiliated parties. The orders were the result of an action brought by the Board to address violations of the Change in Bank Control Act in connection with the respondents' acquisition of shares of First Western Bank in 1997 and 1998. The Federal Reserve Board announced on June 17, 2005, the issuance of an order of prohibition against Frank G. Caton, previously branch manager of the former Farmers Bank of Maryland, Annapolis, Maryland. Mr. Caton, without admitting to any allegations, consented to the issuance of the order based on his alleged participation in violations of law and breaches of fiduciary duty to the bank and its customers in connection with embezzlement embezzlement, wrongful use, for one's own selfish ends, of the property of another when that property has been legally entrusted to one. Such an act was not larceny at common law because larceny was committed only when property was acquired by a "felonious taking," i. of funds and falsification falsification /fal·si·fi·ca·tion/ (fawl?si-fi-ka´shun) lying. retrospective falsification unconscious distortion of past experiences to conform to present emotional needs. of the bank's books and records. The Federal Reserve Board announced on June 28, 2005, the issuance of an order of prohibition and order to cease and desist Cease and desist (also called C & D) is a legal term used primarily in the United States which essentially means "to halt" or "to end" an action ("cease") and to refrain from doing it again in the future ("desist"). against Matthew T. Stromgren, a former financial adviser at J.P. Morgan Chase and Company, New York, New York. Mr. Stromgren, without admitting to any allegations, consented to the issuance of the order based on his alleged participation in violations of law and breaches of fiduciary duty to the bank and its customers in connection with embezzlement of funds, forgery, and falsification of the bank's books and records. The order requires Mr. Stromgren to make restitution to the bank in the amount of $31,000. The Federal Reserve Board announced on July 21, 2005, the issuance of an order of prohibition against Stefanie Milmine, a former employee of Fifth Third Bank in Grand Rapids, Michigan “Grand Rapids” redirects here. For other uses, see Grand Rapids (disambiguation). Grand Rapids is a city in the U.S. state of Michigan. As of the 2000 census, the city population was 197,800. . Ms. Milmine, without admitting to any allegations, consented to the issuance of the order based on her alleged participation in violations of law and breaches of fiduciary duty in connection with embezzlement of funds at the bank, as well as similar violations and breaches at other banks. The Federal Reserve Board announced on August 1, 2005, the issuance of a cease and desist order and order of assessment of a civil money penalty against Frank French, a former institution-affiliated party of the Montana State Bank, Plentywood, Montana. Mr. French, without admitting to any allegations, consented to the issuance of the order for alleged violations of the Board of Governors' Regulation O, which governs loans to executive officers, directors, and principal shareholders of member banks. The order also requires Mr. French to pay a civil money penalty of $10,000. Termination of Enforcement Actions The Federal Reserve Board announced on April 21, 2005, the termination of the enforcement actions listed below. The Federal Reserve's enforcement action web site, www.federalreserve.gov/boarddocs/ enforcement, reports the terminations as they occur. * Bank of the Orient Bank of the Orient (建東銀行) is a overseas Chinese bank in the United States. Headquartered in San Francisco, with branch offices in Industry, California, Hawaii, and Xiamen, this privately-held bank is one of few overseas Chinese banks in the United States that , San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] Cease and desist order dated May 7, 2002 Terminated April 18, 2005 * Gold Bank, Leawood, Kansas, and Gold Banc Corporation, Inc., Leawood, Kansas Written agreement dated August 26, 2003 Terminated April 19, 2005 |
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