Idaho Statutes Title 26. Banks and Banking § 26-2140. Cease and desist order--Penalty

(1) If the director finds that any credit union has engaged in an unsafe or unsound practice in conducting the business of such credit union, or any person has violated any provision of this chapter, any rule or order issued under this chapter, any condition imposed in writing by the director, or any written agreement entered into with the director, the director may order the credit union or other person to cease and desist from any such violation or practice. Such order shall be issued pursuant to chapter 52, title 67, Idaho Code.

(2) After providing a notice and an opportunity for a public hearing pursuant to chapter 52, title 67, Idaho Code, the director may assess against and collect a civil money penalty from any credit union or from any director, officer, supervisory committee member, employee, agent, or other person participating in the conduct of the affairs of such credit union who:

(3) A civil money penalty assessed pursuant to subsection (2) of this section shall not exceed one thousand dollars ($1,000) per day for each day such violation continues. No civil money penalty shall be assessed for the same act or practice if another government agency has taken similar action against the credit union or person to be assessed such civil money penalty. In determining the amount of the civil money penalty to be assessed, the director of the department of finance shall consider:

(4) Upon waiver by the respondent of the right to a public hearing concerning an assessment of a civil money penalty, the hearing or portions thereof may be closed to the public when concerns arise about prompt withdrawal of moneys from or the safety and soundness of the credit union.

(5) For the purposes of this section, a violation shall include but is not limited to any action by any person alone or with another person that causes, brings about, or results in the participation in, counseling of, or aiding or abetting of a violation.

(6) The director may modify or set aside any order assessing a civil money penalty.