Bank Formal Enforcement Actions

Enforcement actions provide bank regulators with a standardized mechanism for communicating deficiencies in a bank’s condition and for outlining corrective actions that are needed to restore the bank to sound condition and full compliance with banking regulations. Enforcement actions also typically set timetables for required corrections to take effect.

Enforcement actions in Utah can be issued by one of several federal bank regulators or the Utah Department of Financial Institutions, depending on how the institution is organized and where it is chartered. Federal bank regulators that issue enforcement actions include the Federal Deposit Insurance Corporation (the FDIC), the Federal Reserve (the Fed), the Office of the Comptroller of the Currency (the OCC), and the National Credit Union Administration (the NCUA).

There are two broad categories of enforcement actions: Informal and formal. Unlike informal enforcement actions, formal enforcement actions are legally enforceable. They also can serve as a basis for the imposition of civil money penalties if violated, and are published and publicly available on regulators’ websites (Click on the name of the regulatory agency below to search for formal enforcement actions).