Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders |
|||
FDIC Enforcement Decisions and Orders |
|
FDIC dismissed proceedings against Respondent, a former bank director who had resigned his position the day before being served with a Notice of Removal. FDIC dismissed the proceedings because the United States Court of Appeals held in an unrelated case that Section 8(e) of the Federal Deposit Insurance Act does not authorize the removal of a director who resigns before being served with Notice of Removal proceedings. (Related proceedings in this docket appear at [¶
[.1] Practice and ProcedureInterlocutory AppealsNew Law
[.2] Prohibition, Removal, or SuspensionDefensesResignation Before Notice
In the Matter of
On January 10, 1989, the Board of Directors ("Board") of the Federal Deposit Insurance Corporation ("FDIC") denied Respondent's request for special permission to appeal an order of the administrative law judge denying his motion to dismiss the above captioned proceeding. Respondent argued that the FDIC lacked jurisdiction to issue an order to prohibit his future participation in the affairs of * * * Bank and other federally insured financial institutions because he resigned his position at * * * Bank prior to the issuance of the notice that the agency intends to seek his removal.
[.1] The Board now agrees with Respondent that interlocutory review is appropriate. The Stoddard decision establishes new law limiting the Board's jurisdiction under section 8(e) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e).
In the Matter of
On April 11, 1989, Counsel for Respondent filed, apparently for my consideration, a Motion for Reconsideration of my Order Denying Respondent's Motion to Dismiss for Lack of Subject Matter Jurisdiction; Counsel for the FDIC filed, with the Office of the Executive Secretary, a Memorandum of Points and Authorities in Opposition thereto on May 3, 1989, serving a copy upon the undersigned. |
|
Last Updated 6/6/2003 | legal@fdic.gov |
Home Contact Us Search Help SiteMap Forms Freedom of Information Act (FOIA) Service Center Website Policies USA.gov |
FDIC Office of Inspector General |