The Federal Reserve Board on Monday announced the issuance of a Cease and Desist Order and Order of Assessment of a Civil Money Penalty against Frank French, a former institution-affiliated party of the Montana State Bank, Plentywood, Montana.
Mr. French, without admitting to any allegations, consented to the issuance of the Order for alleged violations of the Board of Governors' Regulation O, which governs loans to executive officers, directors, and principal shareholders of member banks. The Order also requires Mr. French to pay a civil money penalty of $10,000.
A copy of the Order is attached.
Attachment (156 KB