(a) The banking commissioner may initiate a proceeding for an administrative penalty against a bank or other person by serving on the bank or other person, as applicable, notice of the time and place of a hearing on the penalty. The hearing may not be held earlier than the 20th day after the date the notice is served. The notice must:
(1) be served by personal delivery or by registered or certified mail, return receipt requested;
(2) contain a statement of the conduct alleged to constitute a violation; and
(3) if the alleged violation is described by § 35.009(a)(1) or (2), identify corrective action that the bank or other person must take to avoid or reduce the amount of a penalty that would otherwise be imposed under this section.
(b) In determining the amount of any penalty to be imposed, the banking commissioner shall consider the following factors:
(1) the financial resources of the bank or other person;
(2) the good faith of the bank or other person, including any corrective action taken;
(3) the gravity of the violation;
(4) the history of previous violations;
(5) an offset of the amount of the penalty by the amount of any penalty imposed by another state or federal agency for the same conduct; and
(6) any other matter that justice may require.

(c) If the banking commissioner determines after the hearing that the alleged conduct occurred and that the conduct constitutes a violation, the banking commissioner may impose an administrative penalty against a bank or other person, as applicable, in an amount:
(1) if imposed against a bank, not more than $10,000 for each violation for each day the violation continues, except that the maximum administrative penalty that may be imposed is the lesser of $500,000 or one percent of the bank’s assets; or
(2) if imposed against a person other than a bank, not more than $5,000 for each violation for each day the violation continues, except that the maximum administrative penalty that may be imposed is $250,000.