Regulatory AlertsPolicy Statement on Interagency Notification of Formal Enforcement Actions
The Board of Governors of the Federal Reserve System issued this joint policy statement with the FDIC and OCC to replace the outdated 1997 FFIEC guidance on interagency coordination of formal enforcement actions. The new framework mandates that Board staff notify other federal banking agencies of enforcement actions involving their interests to ensure coordination at the earliest practicable date. This update reflects modern electronic communication practices and the public availability of enforcement actions on agency websites, thereby reducing the need for redundant written notices.
Share