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LOWE v. FEDERAL DEPOSIT INS. CORP.

No. 90-8471.

958 F.2d 1526 (1992)

R. WAYNE LOWE, individually and as director and principal shareholder; Jimmy A. Spivey, individually and as director of International City Bank, Warner Robins, Georgia, Petitioners, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Respondent.

United States Court of Appeals, Eleventh Circuit.

April 22, 1992.

Attorney(s) appearing for the Case

Gary G. Grindler, Nickolas P. Chilivis, Lillian C. Giornelli, Chilivis & Grindler, Atlanta, Ga., for petitioners.

Thomas Holzman, FDIC, Washington, D.C., for respondent.

Before TJOFLAT, Chief Judge, CLARK, Senior Circuit Judge, and KAUFMAN, Senior District Judge.

TJOFLAT, Chief Judge:

On April 16, 1990, the Federal Deposit Insurance Corporation (FDIC) issued an order assessing civil money penalties against petitioners, pursuant to the Federal Deposit Insurance Act (FDIA), 12 U.S.C. § 1828(j)(4)(A), (B) (1988), for violating the statutory duties of bank directors in policing insider loans. The FDIC construed the statute as assigning liability to any director's action violating its provisions without some further showing...

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