EXHIBIT 10.10

UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
COMPTROLLER OF THE CURRENCY

In the Matter of:
T Bank, National Association
Dallas, TX
)
)
)
 
AA-EC-09-104

CONSENT ORDER FOR A CIVIL MONEY PENALTY

The Comptroller of the Currency of the United States of America (“Comptroller”),
through his National Bank Examiner, has examined the affairs of T Bank, National
Association, Dallas, Texas (“Bank”).
 
The Bank, by and through its duly elected and acting Board of Directors
(“Board”), has executed a “Stipulation and Consent to the Issuance of a Consent
Order for a Civil Money Penalty,” dated April 15, 2010, that is accepted by the
Comptroller.  By this Stipulation and Consent, which is incorporated by
reference, the Bank has consented to the issuance of this Consent Order for a
Civil Money Penalty (“Order”) by the Comptroller.
 
The Bank, by and through its Board, has also executed an Agreement by and
between the Bank and the Comptroller, dated April 15, 2010.

Article I
 
COMPTROLLER’S FINDINGS

The Comptroller finds, and the Bank neither admits nor denies, without any
adjudication on the merits, the following:
 
(1)          The Bank maintained account relationships for Giact Systems, Inc.
(“Giact”), a third-party payment processor for certain telemarketers and
internet merchants that also had account relationships at the Bank
(collectively, “the merchants”).

 

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(2)          As part of its business activities, Giact collected consumer bank
account information from the merchants and used it to create remotely created
checks (“RCCs”), demand drafts, or other similar instruments that were deposited
into the merchants’ accounts at the Bank.
 
(3)          A substantial number of the RCCs, demand drafts, or other similar
instruments created by Giact and deposited at the Bank on behalf of the
merchants were returned to the Bank, by or on behalf of consumers, for a number
of reasons, including that consumers had not authorized the funds to be taken
from their accounts.
 
(4)         In connection with its handling of the account activities of Giact
and the merchants, the Bank engaged in unfair practices in violation of Section
5 of the Federal Trade Commission Act, 15 U.S.C. Section 45(a)(1), and unsafe or
unsound practices, including:
 
 
(a)
inadequate due diligence prior to opening the accounts;
     

 
(b)
inadequate monitoring of the rates of return on the RCCs, demand drafts, and
other similar instruments deposited into the accounts; and
     

 
(c)
inadequate policies, procedures, systems, and controls relating to the Bank’s
relationship with the merchants.

 
(5)         The Bank’s handling of the account activities of Giact and the
merchants resulted in financial gain to the Bank in the form of fee income from
the payment processor and the merchants on returned items.

Article II
 
ORDER FOR A CIVIL MONEY PENALTY
 
(1)          Without admitting or denying any wrongdoing, the Bank hereby
consents to the payment of a civil money penalty in the amount of one hundred
thousand dollars ($100,000), which shall be paid upon execution of this Order.

 
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(a) 
If a check is the selected method of payment, the check shall be made payable to
the Treasurer of the United States and shall be delivered to: Comptroller of the
Currency, P.O. Box 979012, St. Louis, Missouri 63197-9000.
     

(b) 
If a wire transfer is the selected method of payment, it must be sent to the
Comptroller’s account #2071-0001, ABA Routing # 021030004.

     
(c) 
A photocopy of the payment document or confirmation of the wire transfer shall
be sent immediately, by overnight delivery, to the Director of Enforcement and
Compliance, Office of the Comptroller of the Currency, 250 E Street SW,
Washington, DC 20219.

 
(2)          This Order shall be enforceable to the same extent and in the same
manner as an effective and outstanding order that has been issued and has become
final pursuant to 12 U.S.C. §§ 1818(h) and (i) (as amended).

Article III
 
CLOSING
 
(1)          It is expressly and clearly understood that if, at any time, the
Comptroller deems it appropriate in fulfilling the responsibilities placed upon
him by the several laws of the United States of America to undertake any action
affecting the Bank, nothing in this Order shall in any way inhibit, estop, bar
or otherwise prevent the Comptroller from so doing.
 
(2)          This Order is intended to be, and shall be construed to be, a final
order issued pursuant to 12 U.S.C. § 1818(i)(2), and expressly does not form,
and may not be construed to form, a contract binding on the Comptroller or the
United States.

 
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(3)          The terms of this Order, including this paragraph, are not subject
to amendment or modification by any extraneous expression, prior agreements or
prior arrangements between the parties, whether oral or written.

IT IS SO ORDERED, this 15th day of April 2010

/s/ Gil Barker  
April 15, 2010
Gil Barker
Deputy Comptroller
Southern District
   

 
 
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UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
COMPTROLLER OF THE CURRENCY

In the Matter of:
T Bank, National Association
Dallas, TX
)
)
)
 
AA-EC-09-104

STIPULATION AND CONSENT TO THE ISSUANCE
OF A CONSENT ORDER FOR A CIVIL MONEY PENALTY

The Comptroller of the Currency of the United States of America (“Comptroller”)
intends to initiate a civil money penalty proceeding against T Bank, National
Association, Dallas, Texas (“Bank”) pursuant to 12 U.S.C. § 1818(i) for unsafe
or unsound banking practices and violations of law relating to the Bank’s
relationships with telemarketers and internet merchants (collectively, “the
merchants”), and Giact Systems, Inc., a third party payment processor for the
merchants.
 
The Bank, in the interest of compliance and cooperation, consents to the
issuance of a Consent Order for a Civil Money Penalty, dated April 15, 2010
(“Order”);
 
In consideration of the above premises, the Comptroller, through his authorized
representative, and the Bank, through its duly elected and acting Board of
Directors, hereby stipulate and agree to the following:

Article I
 
JURISDICTION
 
(1)         The Bank is a national banking association chartered and examined by
the Comptroller pursuant to the National Bank Act of 1864, as amended, 12 U.S.C.
§ 1 et seq.
 
(2)         The Comptroller is “the appropriate Federal banking agency”
regarding the Bank pursuant to 12 U.S.C. §§ 1813(q) and 1818(i).

 
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(3)         The Bank is an “insured depository institution” within the meaning
of 12 U.S.C. § 1818(i).
 
Article II
 
AGREEMENT
 
(1)         The Bank, without admitting or denying any wrongdoing, hereby
consents and agrees to the issuance of the Order by the Comptroller.
 
(2)         The Bank further agrees that said Order shall be deemed an “order
issued with the consent of the depository institution” as defined in 12 U.S.C.
§ 1818(h)(2), and consents and agrees that said Order shall become effective
upon its issuance and shall be fully enforceable by the Comptroller under the
provisions of 12 U.S.C. § 1818(i).  Notwithstanding the absence of mutuality of
obligation, or of consideration, or of a contract, the Comptroller may enforce
any of the commitments or obligations herein undertaken by the Bank under his
supervisory powers, including 12 U.S.C. § 1818(i), and not as a matter of
contract law.  The Bank expressly acknowledges that neither the Bank nor the
Comptroller has any intention to enter into a contract.
 
(3)         The Bank also expressly acknowledges that no officer or employee of
the Comptroller has statutory or other authority to bind the United States, the
U.S. Treasury Department, the Comptroller, or any other federal bank regulatory
agency or entity, or any officer or employee of any of those entities to a
contract affecting the Comptroller’s exercise of his supervisory
responsibilities.

 
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Article III
 
WAIVERS
 
(1)         The Bank, by signing this Stipulation and Consent, hereby waives:
 
(a) 
the issuance of a Notice of Charges pursuant to 12 U.S.C. § 1818(b);
     

(b) 
all rights to a hearing and a final agency decision pursuant to 12 U.S.C.
§ 1818(i), 12 C.F.R. Part 19
     

(c) 
all rights to seek any type of administrative or judicial review of the Order;
     

(d) 
any and all rights to challenge or contest the validity of the Order; and
     

(e) 
any and all claims for fees, costs or expenses against the Comptroller, or any
of its agents or employees, related in any way to this enforcement matter or
this Order, whether arising under common law or under the terms of any statute,
including, but not limited to, the Equal Access to Justice Act, 5 U.S.C. § 504
and 28  U.S.C. § 2412.

Article IV
 
OTHER ACTION
 
(1)         The Bank agrees that the provisions of this Stipulation and Consent
shall not inhibit, estop, bar, or otherwise prevent the Comptroller from taking
any other action affecting the Bank if, at any time, it deems it appropriate to
do so to fulfill the responsibilities placed upon it by the several laws of the
United States of America.

 
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(2)         The Bank understands that nothing herein shall preclude any
proceedings brought by the Comptroller to enforce the terms of this Order, and
that nothing herein constitutes, nor shall the Bank contend that it constitutes,
a waiver of any right, power, or authority of any other representatives of the
United States or agencies thereof, including the Department of Justice, to bring
other actions deemed appropriate.
 
IN TESTIMONY WHEREOF, the undersigned, authorized by the Comptroller as his
representative, has hereunto set her hand on behalf of the Comptroller.

/s/ Gil Barker  
April 15, 2010
Gil Barker
Deputy Comptroller
Southern District
 
Date

IN TESTIMONY WHEREOF, the undersigned, as the duly elected and acting Board of
Directors of the Bank, have hereunto set their hands on behalf of the Bank.

/s/ Patrick Adams
 
April 15, 2010
Patrick Adams
 
Date
     
/s/ Stanley E. Allred
 
April 15, 2010
Stanley E. Allred
 
Date
     
/s/ Dan R. Basso
 
April 15, 2010
Dan R. Basso
 
Date
     
/s/ Frankie Basso
 
April 15, 2010
Frankie Basso
 
Date

 
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/s/ David W. Carstens
 
April 15, 2010
David W. Carstens
 
Date
     
/s/ Ron Denheyer
 
April 15, 2010
Ron Denheyer
 
Date
     
/s/ Patrick Howard
 
April 15, 2010
Patrick Howard
 
Date
     
/s/ Steven Jones
 
April 15, 2010
Steven Jones
 
Date
     
/s/ Eric Langford
 
April 15, 2010
Eric Langford
 
Date
     
/s/ Steven M. Lugar
 
April 15, 2010
Steven M. Lugar
 
Date
     
/s/ Charles M. Mapes III
 
April 15, 2010
Charles M. Mapes III
 
Date
     
/s/ Thomas McDougal
 
April 15, 2010
Thomas McDougal
 
Date
     
/s/ Cyvia Noble
 
April 15, 2010
Cyvia Noble
 
Date
     
/s/ Anthony V. Pusateri
 
April 15, 2010
Anthony V. Pusateri
 
Date
     
/s/ Gordon R. Youngblood
 
April 15, 2010
Gordon R. Youngblood
 
Date

 
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