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UNITED STATES OF AMERICA
BEFORE THE BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.
_________________________________________
)
ON CERTIFICATION OF THE DEPARTMENT )
OF THE TREASURY-- OFFICE OF THE
)
COMPTROLLER OF THE CURRENCY
)
)
In the Matter of a Notice to
)
Prohibit Further Participation
)
Against MARIAN L. BUTLER,
) DOCKET NO. OCC-AA)
EC-02-07
Former Employee,
)
CoreStates Financial (now First Union)
)
PHILADELPHIA, PENNSYLVANIA
)
_________________________________________ )
ORDER OF PROHIBITION
WHEREAS, pursuant to section 8(e) of the Federal Deposit
Insurance Act, as amended (the "Act")(12 U.S.C. § 1818(e)), the Board of
Governors of the Federal Reserve System ("the Board") is of the opinion, for
the reasons set forth in the accompanying Final Decision, that a final Order
of Prohibition should issue against MARIAN L. BUTLER ("Butler"), a
former employee and institution-affiliated party, as defined in Section 3(u)
of the Act (12 U.S.C § 1813(u)), of CoreStates Financial (now First Union),
Philadelphia, Pennsylvania, a national banking association.
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NOW, THEREFORE, IT IS HEREBY ORDERED, pursuant to
section 8(e) of the Act, 12 U.S.C. § 1818(e), that:
1. In the absence of prior written approval by the Board, and by
any other Federal financial institution regulatory agency where necessary
pursuant to section 8(e)(7)(B) of the Act (12 U.S.C. § 1818(e)(7)(B)), Butler
is hereby prohibited:
(a) from participating in the conduct of the affairs of any
bank holding company, any insured depository institution or any other
institution specified in subsection 8(e)(7)(A) of the Act (12 U.S.C.
§ 1818(e)(7)(A));
(b) from soliciting, procuring, transferring, attempting to
transfer, voting or attempting to vote any proxy, consent, or authorization
with respect to any voting rights in any institution described in subsection
8(e)(7)(A) of the Act (12 U.S.C. ' 1818(e)(7)(A));
(c) from violating any voting agreement previously
approved by any Federal banking agency; or
(d) from voting for a director, or from serving or acting
as an institution-affiliated party as defined in section 3(u) of the Act (12
U.S.C. § 1813(u)), such as an officer, director, or employee.
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2. This Order, and each provision hereof, is and shall remain fully
effective and enforceable until expressly stayed, modified, terminated or
suspended in writing by the Board.
This Order shall become effective at the expiration of thirty days after
service is made.
By Order of the Board of Governors, this 13 day of February, 2003.
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
(signed) Jennifer J. Johnson
Jennifer J. Johnson
Secretary of the Board