Issuance of orders to correct deficiencies and to take or refrain from taking other actions.

CFR · 2024-01-01 · US · Title 12

(a) (2) (b) (1) A statement of the safety and soundness deficiency or deficiencies that have been identified at the national bank or Federal savings association; (2) A description of any restrictions, prohibitions, or affirmative actions that the OCC proposes to impose or require; (3) The proposed date when such restrictions or prohibitions would be effective or the proposed date for completion of any required action; and (4) The date by which the national bank or Federal savings association subject to the order may file with the OCC a written response to the notice. (c) (2) (i) An explanation why the action proposed by the OCC is not an appropriate exercise of discretion under section 39; (ii) Any recommended modification of the proposed order; and (iii) Any other relevant information, mitigating circumstances, documentation, or other evidence in support of the position of the national bank or Federal savings association regarding the proposed order. (d) (1) Issue the order as proposed or in modified form; (2) Determine not to issue the order and so notify the national bank or Federal savings association; or (3) Seek additional information or clarification of the response from the national bank or Federal savings association, or any other relevant source. (e) (f)

official document · source cfr-2024 · id 12:§ 30.5