Fdic: Manual of Examination Policies



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CIVIL MONEY PENALTIES
Section 14.1
INTRODUCTION
The Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRIRCA) gave the FDIC authority to prospectively assess civil money penalties (CMPs) against both banks and individuals. The Financial Institutions Reform, Recovery, and Enforcement Act of
1989 (FIRREA) significantly increased the penalties for both banks and individuals and broadened the applicability of civil money penalties. Civil money penalties maybe assessed for the violation of any law or regulation, any final order or temporary order issued, any condition imposed in writing by the appropriate Federal banking agency in connection with the approval of any application, and any written agreement between a depository institution and Federal banking agency. For example, civil money penalties maybe assessed in the following instances Violations involving changes in control of banks. Refer to Section j) of the FDI Act, Parts 303 and
308 of the FDIC Rules and Regulations, and the Applications Section of this Manual. Violations involving participation by a convicted individual in the affairs of an insured depository institution. Refer to Section 19 of the FDI Act and the Applications Section of this Manual. Violations of cease-and-desist orders that have become final. Refer to Section i) of the FDI Act, Part 308 of the FDIC Rules and Regulations, and the Formal Administrative Actions Section of this Manual. Violations of Section A of the Federal Reserve Act loans to affiliates. Refer to Section j) and j) of the FDI Act, Part 308 of the FDIC Rules and Regulations, and the Related Organizations Section of this Manual. Violations of Section h) of the Federal Reserve Act loans to directors, officers, and principal stockholders. Refer to Section j) and j) of the FDI Act, Part 308 of the FDIC Rules and Regulations, and the Management Section of this Manual. Violations of Section b) of the Bank Holding Company Act (tying arrangements - official family loans and linked correspondent accounts. Refer to Section 106(b)(2)(F) of the Bank Holding Company Act Amendments of 1970, Part 308 of the FDIC Rules and Regulations, and the Related Organizations Section of this Manual. Violations of Section 3907 of the International Lending Supervision Act of 1983 involving an issued Capital Directive. Refer to Sections 3907 and 3909 of
ILSA, Part 325 of the FDIC Rules and Regulations, the Capital Section and the Formal Administrative Actions Section of this Manual.
VIOLATIONS
The previously mentioned statutes and regulations, with the exception of those relating to changes in bank control, define "violations" as including, but not limited to, "any action (alone or with another) for or towards causing, bringing about, participating in, counseling, or aiding or abetting a violation" The definition is exceptionally broad and will likely encompass any violation of the applicable statutes.


Assessment of civil money
Dsc risk management manual of examination policies
Civil money penalties (2-00)
Examination procedures
Other considerations
Pecuniary gain or other benefit to iap
Administrative action or criticism
Loss or harm to securities holders or consumers
Party (iap) or related



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