Tex. Fin. Code Section 35.211
Administrative Penalty

(a)

The banking commissioner may initiate an action for an administrative penalty against a person for violation of a cease and desist order by serving on the person notice of the time and place of a hearing on the penalty. The notice must be delivered by personal delivery or certified mail, return receipt requested, to the person’s last known address. The hearing may not be held earlier than the 20th day after the date the notice is served. The notice must contain a statement of the facts or conduct alleged to violate the cease and desist order.

(b)

In determining whether a cease and desist order has been violated, the banking commissioner shall consider the maintenance of procedures reasonably adopted to ensure compliance with the order.

(c)

If the banking commissioner after the hearing determines that a cease and desist order has been violated, the banking commissioner may:

(1)

impose an administrative penalty in an amount not to exceed $25,000 for each discrete unauthorized act;

(2)

direct the person against whom the order was issued to make complete restitution, in the form and amount and within the period determined by the banking commissioner, to each resident of this state and entity operating in this state damaged by the violation; or

(3)

both impose the penalty and direct restitution.

(d)

In determining the amount of the penalty and whether to impose restitution, the banking commissioner shall consider:

(1)

the seriousness of the violation, including the nature, circumstances, extent, and gravity of any prohibited act;

(2)

the economic harm caused by the violation;

(3)

the history of previous violations;

(4)

the amount necessary to deter future violations;

(5)

efforts to correct the violation;

(6)

whether the violation was intentional or unintentional;

(7)

the financial ability of the person against whom the penalty is to be assessed; and

(8)

any other matter that justice may require.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 35.211 — Administrative Penalty, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­35.­htm#35.­211 (accessed Jun. 5, 2024).

35.0001
Applicability to Bank Subsidiaries 35.001
Determination Letter 35.002
Cease and Desist Order 35.003
Removal or Prohibition Order 35.004
Hearing on Proposed Order 35.005
Emergency Order 35.006
Copy of Letter or Order in Bank Records 35.007
Effect of Final Removal or Prohibition Order 35.008
Limitation on Action 35.009
Enforcement by Commissioner 35.010
Administrative Penalty 35.011
Payment or Appeal of Administrative Penalty 35.012
Confidentiality of Records 35.013
Collection of Fees 35.0035
Removal or Prohibition Orders in Response to Certain Criminal Offenses 35.0071
Application for Release from Final Removal or Prohibition Order 35.101
Order of Supervision 35.102
Order of Conservatorship 35.103
Notice and Hearing 35.104
Post-hearing Order 35.105
Confidentiality of Records 35.106
Authority of Supervisor 35.107
Authority of Conservator 35.108
Qualifications of Appointee 35.109
Expenses 35.110
Review of Supervisor or Conservator Decision 35.111
Venue 35.112
Duration 35.113
Administrative Election of Remedies 35.114
Release Before Hearing 35.201
Inapplicability 35.202
Investigation of Unauthorized Activity 35.203
Subpoena Authority 35.204
Enforcement of Subpoena 35.205
Confidentiality of Subpoenaed Records 35.206
Evidence 35.207
Cease and Desist Order 35.208
Emergency Cease and Desist Order 35.209
Judicial Review of Cease and Desist Order 35.210
Violation of Final Cease and Desist Order 35.211
Administrative Penalty 35.212
Payment and Appeal of Administrative Penalty 35.213
Judicial Review of Administrative Penalty 35.1001
Applicability to Bank Subsidiaries
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 35.211’s source at texas​.gov