The Federal Deposit Insurance Corporation (FDIC) issued a number of enforcement actions against various banks and individuals in July, as detailed in their recent announcement made on August 25. Read the full FDIC report here.
The published report consists of ten administrative actions. These actions include two orders that combined a prohibition order with an order to pay a Civil Money Penalty (CMP). Another action combined a personal consent order with an order to pay CMP. Additionally, there are also four standalone prohibition orders and one order enhancing the terms of a previous prohibition.
In a more severe case, one order involved the termination of a bank’s deposit insurance. The remaining action is rather particular, obliging an entity to pay CMP for systematic violations of the Flood Disaster Protection Act.
These series of measures underscore the FDIC’s continuous efforts to ensure adherence to banking regulations and standards, protecting consumers and preserving the health of the national banking system.