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Enforcement Actions - Information

Question: 
I often see references to "enforcement actions" taken against institutions by examining agencies. What are these actions and why are they levied?
Answer: 

An enforcement action may be issued in the form of an order of prohibition and removal, or a civil money penalty. Orders of prohibition and removal generally result from a soon-to-be-former financial institution employee who admits to "bad banking behavior", such as embezzlement. These admissions may be made in either a civil or criminal court. Levying a civil money penalty generally results from an organization's "bad banking behavior" that often is associated with non-compliance with a regulation or a deceptive practice. No institution may employee - or continue to employ - any person who has been served with an order of prohibition and removal. See Section 19 of the FDIA (Federal Deposit Insurance Act) for more information relating to background investigations.

Enforcement actions against institutions or their affiliated parties may be found on the website of the institution's primary regulator, including:

FDIC: http://www.fdic.gov/bank/individual/enforcement/

OCC: http://apps.occ.gov/EnforcementActions/

Federal Reserve Board: http://www.federalreserve.gov/apps/enforcementactions/search.aspx

OTS: http://ots.gov/?p=EnforcementSearch

NCUA: http://www.ncua.gov/Legal/Regs/Pages/AdminOrders.aspx

First published on BankersOnline.com 5/6/13

First published on 05/06/2013

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