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OCC BULLETIN 2018-41
To: Chief Executive Officers of All National Banks, Federal Branches and Agencies, and Federal Savings Associations; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Description: OCC Enforcement Action Policies and Procedures Manuals

Summary

The Office of the Comptroller of the Currency (OCC) issued today its Policies and Procedures Manual (PPM) for enforcement actions against institution-affiliated parties (IAP) of national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks). This PPM generally sets forth the OCC’s existing policies and procedures for taking enforcement actions against a current or former IAP in response to violations of laws, regulations, final agency orders, conditions imposed in writing, or written agreements; unsafe or unsound practices; or breaches of fiduciary duty. The OCC also updated today its policies and procedures regarding bank enforcement actions and related matters and civil money penalties, primarily to ensure consistency with its policies and procedures for enforcement actions against IAPs. These PPMs are effective upon issuance.

This bulletin rescinds OCC Bulletin 2016-5, “Civil Money Penalties,” issued February 26, 2016, and OCC Bulletin 2017-48, “Bank Enforcement Actions and Related Matters,” issued October 31, 2017.  

Note for Community Banks

These policies and procedures apply to all OCC-supervised banks.

Highlights

PPM 5310-13, “Institution-Affiliated Party Enforcement Actions and Related Matters,” includes

  • a description of the enforcement actions most commonly taken against current or former IAPs.
  • OCC policies and procedures for taking enforcement actions against current or former IAPs in response to violations of law, regulation, final agency orders, conditions imposed in writing, or written agreements; unsafe or unsound practices; or breaches of fiduciary duty.

Background

In October 2017, the OCC updated its policies and procedures regarding bank enforcement actions and related matters. The OCC determined that the agency could also benefit from issuing a PPM regarding enforcement actions against IAPs and related matters. The OCC’s enforcement policies reflect the principles important in implementing the OCC’s mission to ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.

Further Information

Please contact the OCC’s Enforcement and Compliance Division at (202) 649-6200 or Special Supervision Division at (202) 649-6450.

 

Toney M. Bland
Senior Deputy Comptroller for Midsize and Community Bank Supervision

Grace E. Dailey
Senior Deputy Comptroller for Bank Supervision Policy and Chief National Bank Examiner

Grovetta N. Gardineer
Senior Deputy Comptroller for Compliance and Community Affairs

Morris R. Morgan
Senior Deputy Comptroller for Large Bank Supervision

Bao Nguyen
Acting Senior Deputy Comptroller and Chief Counsel

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