OCC Bulletin 2018-41
Office of the Comptroller of the Currency
Nov 13, 2018
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.
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.