Opinion ID: 3009588
Heading Depth: 1
Heading Rank: 7

Heading: The Preliminary Suspension Order

Text: Because we conclude we must vacate that part of the Director's order removing Seidman from his office at Crestmont and banning him from the banking industry, we find it unnecessary to address Seidman's argument that the district court erred in dismissing his action to enjoin enforcement of the OTS preliminary suspension. Though we will remand for the Director to consider whether a cease and desist order should be entered against Seidman pursuant to 12 U.S.C.A. § 1818(b), that section of the governing statute, unlike section 1818(e), does not authorize entry of a preliminary suspension order. See 12 U.S.C.A. § 1818(b) and (e). We will therefore vacate the Director's order suspending Seidman from his office at Crestmont and from participating in Crestmont's business activities.