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[¶12,021] In the Matter of Nelson Rodriguez Lopez, individually and as an
Institution-affiliated party of Banco Bilbao Vizcaya Argentaria Puerto
Rico, San Juan, Puerto Rico, Docket No. 00-014e (2-14-03).
Respondents prohibited from participating in the conduct of affairs of,
or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in
Conduct of Affairs
In the Matter of
NELSON RODRIGUEZ LOPEZ,
individually, and as an
institution-affiliated party of
BANCO BILBAO VIZCAYA ARGENTARIA PUERTO RICO
SAN JUAN, PUERTO RICO
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-00-014e
Nelson Rodriguez Lopez ("Respondent") has been advised
of the right to receive a NOTICE OF INTENTION TO PROHIBIT
FROM
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FURTHER PARTICIPATION ("NOTICE") issued by the
Federal Deposit Insurance Corporation ("FDIC") detailing the
unsafe or unsound banking practices, and/or breaches of fiduciary duty
for which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
("ORDER") may issue, and has been further advised of the right to
a hearing on the alleged charges under section 8(e) of the Federal
Deposit Insurance Act ("Act"), 12 U.S.C. §1818(e), and the
FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308. Having
waived those rights, the Respondent entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER
PARTICIPATION ("CONSENT AGREEMENT") with a representative of the
Legal Division of the FDIC, whereby solely for the purpose of this
proceeding and without admitting or denying any unsafe or unsound
banking practice and/or breach of fiduciary duty, Respondent consented
to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in unsafe or
unsound banking practices and/or breaches of fiduciary duty as an
institution-affiliated party of Banco Bilbao Vizcaya Puerto Rico, San
Juan, Puerto Rico (now known as Banco Bilbao Vizcaya Argentaria Puerto
Rico, San Juan, Puerto Rico);
(b) By reason of such unsafe or unsound banking practices and/or
breaches of fiduciary duty, the Bank has suffered or will probably
suffer financial loss or other damage, and/or Respondent received
financial gain or other benefit; and
(c) Such unsafe or unsound banking practices and/or breaches of
fiduciary duty involve personal dishonesty on the part of Respondent or
demonstrate Respondent's willful and/or continuing disregard for the
safety or soundness of the Bank.
The FDIC further determined that such unsafe or unsound banking
practices and/or breaches of fiduciary duty demonstrate the
Respondent's unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
[.1]1. NELSON RODRIGUEZ LOPEZ is hereby, without the prior written
approval of the FDIC and the appropriate Federal financial institutions
regulatory agency, as that term is defined in section 8(e)(7)(D) of the
Act, 12 U.S.C. §1818(e)(7)(D), prohibited from:
(a) participating in any manner in the conduct of the affairs of
any financial institution or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon its issuance by the FDIC.
The provisions of this ORDER will remain effective and enforceable
except to the extent that, and until such time as, any provision of
this ORDER shall have been modified, terminated, suspended, or set
aside by the FDIC.
Pursuant to delegated authority.
Dated this 14th day of February, 2003.