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[¶12,120] In the Matter of Union State Bank of West Salem, West Salem,
Wisconsin, Docket No. 03-136k (11-6-03).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $4,500.
In the Matter of
UNION STATE BANK OF WEST SALEM
WEST SALEM, WISCONSIN
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-03-136k
Union State Bank of West Salem, West Salem, Wisconsin
("Respondent"), has been advised of the right to receive a NOTICE
OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS
OF LAW, ORDER TO PAY, AND NOTICE OF HEARING 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 Disclosure 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 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 those rights, the Respondent entered into a
STIPULATION AND CONSENT TO
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THE ISSUANCE OF AN ORDER TO PAY CIVIL MONEY
PENALTY ("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 violations, Respondent consented
and agreed to pay a civil money penalty in the amount of $4,500 related
to its omission of information and submission of inaccurate information
on the loan application registers for calendar years 2000 and 2001 as
required by HMDA.
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 four thousand five
hundred dollars ($4,500) 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 CONSENT AGREEMENT and issued the
following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of $4,500 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 6th day of November, 2003.