§ 13-10-207 — Civil penalties; amount; factors; notice; payment

Wyoming § 13-10-207

• Jurisdiction: Wyoming
• Title 13: Banks, Banking and Finance
• Ch. 10: CRIMES, OFFENSES AND PENALTIES
• Art. 2: ADMINISTRATIVE ENFORCEMENT ACTIONS

Text

(a) In addition to other administrative or criminal
remedies authorized in this act, the commissioner, after notice
and opportunity for hearing, may assess a civil penalty against
a Wyoming financial institution, an officer or director of a
Wyoming financial institution or a bank holding company if the
Wyoming financial institution, officer or director or bank
holding company:
(i) Is found to have violated any state statute or
rule relating to financial institutions or to have engaged in
any unsafe and unsound practice, whether willfully or as a
result of negligence, incompetence or recklessness; or
(ii) Is found to have violated or failed to comply
with any provision of a lawful order issued by the commissioner
pursuant to this act.
(b) The civil penalty for violating state statute or rule
relating to financial institutions or engaging in an unsafe and
unsound practice shall not exceed five thousand dollars
($5,000.00) per violation. The civil penalty for violating or
failing to comply with a lawful order of the commissioner shall
not exceed five thousand dollars ($5,000.00) per day for each
day of the violation or noncompliance.
(c) In determining the amount of the civil penalty to be
assessed, the commissioner shall consider:
(i) The seriousness of the violation or the unsafe
and unsound practice;
(ii) The good faith of the Wyoming financial
institution, officer or director or the bank holding company;
(iii) The history of previous violations or unsafe
and unsound practices by the Wyoming financial institution,
officer or director or the bank holding company;
(iv) The financial resources of the Wyoming financial
institution, officer or director or the bank holding company;
and
(v) Any other matters the commissioner deems
appropriate.
(d) Before issuing a final order imposing a penalty, the
commissioner shall serve notice of intent to issue the order
upon the Wyoming financial institution, officer or director or
the bank holding company to be assessed. The notice shall be in
writing and shall contain the information required by W.S.
13-10-208(a), the amount of the civil penalty for each violation
and the total amount of the civil penalty to be assessed.
(e) The Wyoming financial institution, officer or director
or the bank holding company may request a hearing on the
proposed order before the board in accordance with W.S.
13-10-208(b). If the Wyoming financial institution, officer or
director or the bank holding company does not request a hearing
in writing within the prescribed time period, the proposed order
of assessment shall become a final order of assessment and the
commissioner shall serve the final order of assessment upon the
Wyoming financial institution, officer or director or the bank
holding company.
(f) The Wyoming financial institution, officer or director
or the bank holding company shall pay the civil penalty assessed
by a final order in full to the commissioner within thirty (30)
days of receipt of the final order of assessment. Any civil
penalty received under this section shall be deposited into the
county public school fund of the county in which the violation
occurred. Notwithstanding any other provision of law, no Wyoming
financial institution or bank holding company shall indemnify or
insure any officer or director of a Wyoming financial
institution against civil penalties assessed under this section.