The Federal Deposit Insurance Corp. assessed a fine on the chairman of the Georgia House of Representatives' banking committee in connection with his relationship with a bank in the state.
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Greg Morris, a Republican, was fined $5,000 for unspecified rules violations, the Atlanta Business Chronicle reported in its online edition Friday. Morris is a director at the $227.6 million-asset Montgomery Bank and Trust in Ailey, Ga., which in January received an investment of roughly $14 million from the private-equity fund PFGBI LLC.
Morris agreed to the fine, which was part of a consent agreement, "without admitting or denying any violation of regulation," the article said.
