{{12-31-98 p.C-4634}}
[11,559] In the Matter of Sumitomo Bank of California, San Francisco, California, Docket No. 98-56k (10-13-98)
Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $9,000.
In the Matter of
SUMITOMO BANK OF CALIFORNIA,
individually, and as an institution-affiliated party of SUMITOMO BANK OF CALIFORNIA
SAN FRANCISCO, CALIFORNIA
(Insured State Nonmember Bank)
ORDER TO PAY
CIVIL MONEY PENALTY
FDIC-98-56k
Sumitomo Bank of California ("Respondent") has received a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the violations for which a civil money penalty may be assessed against Respondent pursuant to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1818(i)(2), section 305 of the Home Mortgage Act ("HMDA"), 12 U.S.C. §2804, and section 203.6 of Regulation C of the Board of Governors of the Federal Reserve System, 12 C.F.R. §203.6, and has been further advised of the right to a hearing on the alleged charges under section 8(i) of the Act, 12 U.S.C. §1818(i), and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived that right, the Respondent entered into a STIPULATION AND CONSENT TO ORDER TO PAY CIVIL MONEY PENALTY ("STIPULATION") with a representative of the Legal Division of the FDIC, whereby solely for the purpose of this proceeding and without admitting or denying any violations, Respondent consented and agreed to pay a civil money penalty in the amount of $9,000.
The FDIC considered the matter and determined it had reason to believe that the Respondent has engaged or participated in violations of law or regulations for which a civil money penalty of $9,000.00 is appropriate to be assessed against the Respondent pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
The FDIC, therefore, accepted the STIPULATION and issued the following:
ORDER TO PAY
CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent Sumitomo Bank of California be, and hereby is, assessed a civil money penalty of $9,000.00 pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2), the receipt of which is hereby acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 13th day of October, 1998.
