(a) After notice and a hearing, the Commissioner may assess a civil penalty against a banking institution that the Commissioner determines has:

(1) Violated a cease and desist order issued by the Commissioner under § 5-808 of this subtitle; or

(2) Engaged in:

(i) An unsafe or unsound banking practice; or

(ii) A practice that is injurious to the public interest.

(b) The civil penalty may not exceed:

(1) $1,000 per violation; and

(2) $1,000 per violation for each day that the violation continues.

(c) (1) A civil penalty shall be assessed by written notice of assessment served on the person to be assessed.

(2) The notice of assessment shall state the:

(i) Amount of the civil penalty;

(ii) Legal authority for the assessment; and

(iii) Matters of fact or law constituting the grounds for the assessment.

(3) The notice of assessment shall constitute a final order for purposes of judicial review pursuant to § 10-221 of the State Government Article.

(d) In determining the amount of the civil penalty to be assessed, the Commissioner shall consider:

(1) The seriousness of the violation;

(2) The good faith of the violator;

(3) The violator’s history of previous violations;

(4) The deleterious effect of the violation on the public and the banking industry;

(5) The assets of the violator; and

(6) Any other factors relevant to the determination of the civil penalty.

(e) (1) A civil penalty assessed under this section shall be due and payable within 30 days after the Commissioner issues the notice of assessment.

(2) The Commissioner may reduce or set aside a civil penalty.

(f) The Commissioner shall pay all civil penalties collected under this section into the General Fund of the State.