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Can you summarize WYST Title 13, Chapter 10?
BANKS, BANKING AND FINANCE > CRIMES, OFFENSES AND PENALTIES
Short Summary
The provided legal document content pertains to administrative enforcement actions related to banks, banking, and finance in Wyoming. It covers various aspects such as the enforcement of provisions, issuance of cease and desist orders, temporary cease and desist orders, removal of officers or directors, temporary suspension of officers or directors, and assessment of civil penalties. The document outlines the process for enforcing the provisions through informal actions, joint enforcement with federal regulatory agencies, and the issuance of cease and desist orders after notice and opportunity for hearing. It also explains the procedures for temporary cease and desist orders, removal of officers or directors, and temporary suspension of officers or directors. The document further authorizes the commissioner to assess civil penalties for violations, unsafe and unsound practices, and noncompliance with lawful orders. The civil penalties are capped at $5,000.00 per violation or per day of noncompliance. The document also provides information on the procedures for enforcement actions, service of notice, content of orders, contested case proceedings, and appeals. It specifies that the commissioner is responsible for serving notices and orders to the relevant entities and individuals, and outlines the process for requesting a hearing, conducting a contested case hearing, issuing findings of fact and conclusions of law, and appealing the final order. The attorney general may apply for enforcement of the final order in the district court. The document concludes by stating that the commissioner shall take prompt corrective action against critically undercapitalized Wyoming financial institutions to protect their safety and soundness, with the exception of trust companies. The document also governs crimes, offenses, and penalties related to financial institutions in Wyoming. It applies to owners, directors, officers, and employees of financial institutions. The document outlines various provisions and penalties for false statements, actions, and fraudulent insolvency. Making false entries or failing to make new entries in the books or statements of a financial institution with intent to injure or defraud the institution or deceive any officer or examiner is a felony punishable by a fine of $1,000 to $5,000 and imprisonment for 1 to 10 years. Making false statements or reports to the state banking commissioner, subscribing or exhibiting false papers with intent to deceive an authorized person, or stating or publishing false reports or statements of the financial institution is also a felony punishable by a fine of $1,000 to $5,000 and imprisonment for 1 to 10 years. Making, circulating, or transmitting false statements or rumors derogatory to the financial condition or affecting the solvency or financial standing of a financial institution is a misdemeanor punishable by a fine of up to $750 and imprisonment for up to 6 months. Additionally, any officer or director of a financial institution who participates in a fraudulent insolvency of a financial institution is guilty of a misdemeanor punishable by a fine of not less than $100.00 nor more than $1,000.00, imprisonment for not less than 1 month nor more than 1 year, or both. The document also governs unlawful discrimination in trade and business relationships in Wyoming. It applies to financial institutions, firearm entities, and trade associations. Financial institutions are prohibited from discriminating against firearm entities engaged in the lawful commerce of firearms, firearm accessories, or ammunition products. However, financial institutions are exempt if they choose not to provide services to a firearm entity for a business or financial reason, or due to a directive by the state banking commissioner or a bank supervisory agency. Financial institutions with a written policy prohibiting discrimination against firearm entities are also exempt, except for refusing to provide financial services or otherwise discriminating when providing financial services to a firearm entity. The document allows individuals who have been injured by a violation of this article to bring a civil action against the financial institution. The court has the power to award attorney fees, costs, and various forms of relief. The attorney general is authorized to file a civil action and request declaratory judgments, injunctions, and civil penalties for repeated discrimination or failure to adhere to antidiscrimination policies. The attorney general may also submit the name of the violating financial institution to the governor for termination of any business relationship. The document specifies a two-year time limit for commencing civil actions. However, the remedies and actions outlined in this document do not apply if a financial institution has a written policy prohibiting discrimination against firearm entities.
Whom does it apply to?
Owners, directors, officers, and employees of financial institutions
What does it govern?
Administrative enforcement actions related to banks, banking, and finance
What are exemptions?
Financial institutions are exempt if they choose not to provide services to a firearm entity for a business or financial reason, or due to a directive by the state banking commissioner or a bank supervisory agency. Financial institutions with a written policy prohibiting discrimination against firearm entities are also exempt, except for refusing to provide financial services or otherwise discriminating when providing financial services to a firearm entity.
What are the Penalties?
Making false entries or failing to make new entries in the books or statements of a financial institution with intent to injure or defraud the institution or deceive any officer or examiner is a felony punishable by a fine of $1,000 to $5,000 and imprisonment for 1 to 10 years. Making false statements or reports to the state banking commissioner, subscribing or exhibiting false papers with intent to deceive an authorized person, or stating or publishing false reports or statements of the financial institution is also a felony punishable by a fine of $1,000 to $5,000 and imprisonment for 1 to 10 years. Making, circulating, or transmitting false statements or rumors derogatory to the financial condition or affecting the solvency or financial standing of a financial institution is a misdemeanor punishable by a fine of up to $750 and imprisonment for up to 6 months. Any officer or director of a financial institution who participates in a fraudulent insolvency of a financial institution is guilty of a misdemeanor punishable by a fine of not less than $100.00 nor more than $1,000.00, imprisonment for not less than 1 month nor more than 1 year, or both.
Jurisdiction
Wyoming