The FDIC issued 57 enforcement actions against banks in December 2011, down from 72 in November. The December enforcement actions included 9 consent orders, 19 civil money penalties, 4 prompt corrective actions, 3 voluntary terminations of insurance, 12 removal and prohibition orders and 10 orders terminating previous consent orders and cease and desist orders. A consent order is [...]

The Utah Department of Financial Institutions closed SunFirst Bank, Saint George, Utah, and appointed the FDIC as receiver.  The FDIC entered into a purchase and assumption agreement with Cache Valley Bank, Logan, Utah, under which Cache Valley will assume most of the deposits of SunFirst Bank.  The FDIC will retain $15 million in deposits that were previously frozen due to litigation [...]

A total of 56 administrative enforcement actions were taken by the FDIC against problem banks in September, up from 53 in August. The most serious September enforcement actions taken by the FDIC included 10 consent orders, 3 prompt corrective actions and 16 civil money penalties.  Please see the complete list of enforcement actions taken below. The FDIC publicly issues enforcement [...]

The FDIC issued a list of 53 administrative enforcement actions taken in August against problem banks and individuals. Among the enforcement actions issued were 11 consent orders, 14 civil money penalties, 1 prompt corrective action and 17 orders terminating previous prompt corrective action directives, consent orders and cease and desist orders.   Please see complete list below. Regulators [...]

The FDIC had another busy month dealing with problem banks in July.  A total of 53 enforcement actions were taken against individuals and banks in July.  Included in the July enforcement actions were 11 consent orders, 2 prompt corrective actions, 11 terminations of previous actions and 19 civil money penalties. Formal enforcement actions by regulators are publicly disclosed and [...]

The number of enforcement actions by the FDIC against problem banks in June totaled 45, down from 57 in the previous month. The FDIC’s enforcement actions included 10 civil money penalties, 14 consent orders and 3 prompt corrective actions.  In addition, the FDIC terminated 8 consent and cease and desist orders, in many cases due to the fact that the bank against which the [...]

The FDIC issued 57 enforcement actions in May against various banks and individuals, down from 76 in April.  Among the enforcement actions issued were 10 consent orders, 11 civil money penalties, 1 prompt corrective action and 13 orders terminating consent orders. As explained in previous posts, various enforcement actions are taken depending on the severity of regulatory action [...]

The FDIC issued 76 enforcements actions in April against individuals and problem banks, down slightly from 87 in March.  Included in the enforcement actions were 8 removal and prohibition orders, 4 prompt corrective actions, 21 consent orders, 21 civil money penalties, 1 modification order and 20 orders terminating consent orders or prompt correction directives and 1 adjudicated [...]

The FDIC issued 87 enforcement actions against problem banks and individuals in March, up from 60 in February.  The administrative enforcement actions processed included 22 consent orders, 15 civil money penalties and 6 prompt corrective actions. Regulatory enforcement actions are issued to address serious deficiencies or when regulators have doubts about an institution’s [...]

The FDIC issued 60 enforcement actions against problem banks in February, down slightly from 61 in January.  Among the more serious administrative enforcement actions processed were 22 consent orders, 13 civil money penalties and 7 prompt corrective actions. The FDIC and other regulators use enforcement actions to address serious deficiencies and when there is regulatory doubt [...]