Enforcement actions manual released to promote ‘transparency and clarity’

A manual of enforcement actions – formal and informal – is available to the public to provide banks and others with “transparency and clarity,” the federal insurer of bank deposits said Monday.

In the public publication of its Formal and Informal Enforcement Actions Manual, the Federal Deposit Insurance Corp. (FDIC) said greater transparency regarding the agency’s enforcement program would be provided. “The manual provides direction for professional staff related to the work necessary to pursue formal and informal enforcement actions,” the FDIC said in a release.

The manual, developed by FDIC’s risk management supervision and the depositor and consumer protection divisions, is intended to support the work of field office, regional office, and Washington office staff involved in processing and monitoring enforcement actions, the agency said.

Among other things, the FDIC said, the 11-chapter manual:

  • Provides instructions to FDIC staff who process formal and informal actions against insured depository institutions and their institution-affiliated parties.
  • Does not interpret any law or regulation. “Rather, it supports FDIC staff in the application of relevant laws and regulations. Additionally, it provides instructions for development of enforcement actions in response to supervisory concerns, violations, and other actionable misconduct,” the agency said.
  • Does not establish supervisory requirements and is not industry guidance.
  • Will be updated periodically for changes in laws, regulations, or processes.

FDIC Releases its Formal and Informal Enforcement Actions Manual