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[¶12,171] In the Matter of State Bank of Chanhassen, Chanhassen, Minnesota,
Docket No. 03-226k (3-29-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $4,000.
In the Matter of
STATE BANK OF CHANHASSEN
CHANHASSEN, MINNESOTA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-03-226k
State Bank of Chanhassen, Chanhassen, Minnesota ("Bank") has
been advised of its 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 ("NOTICE OF ASSESSMENT") issued by the
Federal Deposit Insurance Corporation ("FDIC") detailing the
violations for which a civil money penalty may be assessed against the
Bank 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 its right
to a hearing on the charges pursuant to section 8(i)(2)(H) of the Act,
12 U.S.C. § 1818(i)(2)(H), and Part 308 of the FDIC Rules of Practice
and Procedure, 12 C.F.R. Part 308.
Having waived those rights, the Bank entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN ORDER TO PAY CIVIL MONEY PENALTY
("CONSENT AGREEMENT") with a representative of the Legal Division
of the FDIC, whereby the Bank, solely for the purpose of this
proceeding and without admitting or denying any violations of law
and/or regulations for which civil money penalties may be assessed,
consented to the issuance of an ORDER TO PAY CIVIL MONEY PENALTY by the
FDIC and agreed to pay a civil money penalty in the amount of $4,000 to
the Treasury of the United States.
The FDIC considered the matter and determined it had reason to believe
that the Bank has engaged or participated in violations of law or
regulation for which a civil money penalty of $4,000 is appropriate to
be assessed against the Bank.
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The FDIC, therefore, accepts the CONSENT AGREEMENT and issues the
following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that the Bank be, and hereby is, assessed a
civil money penalty in the amount of $4,000 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 29th day of March, 2004.