Relevant:
- Chestatee State Bank gets cease and desist order from FDIC
- Colonial agrees to cease-and-desist order
- Moody's Gets "Wells Notice," SEC May Order Ratings Agency To "Cease And Desist"
- Update: First Federal Bank of CA Issued Cease & Desist
- Regulators to Order JPMorgan to Fix Anti-Laundering Flaws: Report
2013-01-12 — cbsnews.com
A cease and desist order is the harshest form of enforcement action that the OCC can issue. While the bank is not expected to pay a monetary penalty, the order could potentially limit the bank's business activities and strategic opportunities. Additionally, the bank will be required to enhance its monitoring and risk surveillance systems and procedures.
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