OCC updates enforcement action policies, procedures manuals

November 13, 2018 OCC 0

A policies and procedures manual (PPM) regarding enforcement actions against institution-affiliated parties of national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks) was issued Tuesday by the Office of the Comptroller of the Currency (OCC).

OCC says the manual generally sets forth the agency’s existing policies and procedures for taking enforcement actions against a current or former institution-affiliated party 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 agency also updated its policies and procedures regarding bank enforcement actions and related matters and civil money penalties, primarily to ensure consistency with the above-noted updates regarding institution-affiliated parties. The manuals are “effective upon issuance,” he agency said.

OCC said PPM 5310-13, “Institution-Affiliated Party Enforcement Actions and Related Matters,” describes the enforcement actions most commonly taken against current or former institution-affiliated parties. It also includes policies and procedures for taking enforcement actions against current or former institution-affiliated parties 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.

OCC Bulletin 2018-41

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