Discovered by regulators and enforcement action

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Reference no: EM133935380

Question

Between the time an issue is discovered by regulators and an enforcement action becomes public, there is a lot of discussion and negotiation. Part of a compliance officer's responsibilities include keeping up with current enforcement actions and any and all trends in those actions and,importantly, how their bank can prepare.

Research recent enforcement actions (OCC, Federal Reserve, FDIC, CFPB).

Analyze one public action (excluding flood insurance violations and civil money penalties for those). With the benefit of hindsight given that the action is public, if you had been the compliance officer in the impacted bank, what steps should have been taken to avoid the enforcement action?

Reference no: EM133935380

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