FDIC Releases List of Enforcement Actions Taken Against Banks and Individuals in July 2017

Federal Issues Enforcement FDIC

On August 25, the FDIC released its list of 24 orders of administrative enforcement actions taken against banks and individuals in July. The FDIC issued consent orders against three banks, including one alleging “unsafe or unsound banking practices relating to [b]ank management and directors, capital maintenance, liquidity, credit administration, third-party risk management, audit, interest rate risk, and strategic and profit planning.”

Ten enforcement actions identified by the FDIC related to unsafe or unsound banking practices and breaches of fiduciary duty leading to financial loss, including seven removal and prohibition orders and three assessments of civil money penalties. Also on the list are four Section 19 orders, which allow applicants to participate in the affairs of an insured depository institution after having demonstrated “satisfactory evidence of rehabilitation,” and seven terminations of consent orders.

There are no administrative hearings scheduled for September 2017. The FDIC database containing all 24 of its enforcement decisions and orders may be accessed here.