|For immediate release|
The Federal Reserve Board today announced the issuance of an Order of Assessment of a Civil Money Penalty against Charles A. Drummond, a former president, chief executive officer and director, and an institution-affiliated party of the Professional Bank, Denver, Colorado.
Mr. Drummond, without admitting to any allegations, consented to the issuance of the Order for his alleged violations of sections 23A, 23B and 22(h) of the Federal Reserve Act, 12 U.S.C. '' 371c, 371c-1 and 375b, and Regulation O, 12 C.F.R. Part 215, in connection with insider and affiliate transactions at the bank.
Mr. Drummond paid a fine of $10,000.
A copy of the Order is attached.
|Order (226 KB PDF)|
2000 Enforcement actions