
Consent Order Office of the Comptroller of the Currency Occ Form
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People also ask
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What is an OCC cease and desist order?
Cease & Desist Orders (C&D) or Personal Cease-and-Desist Order (PC&D): A final order issued pursuant to 12 USC 1818(b) that may, among other things, require a bank or IAP to cease and desist from an unsafe or unsound practice or violation and to take affirmative action to correct or remedy any conditions resulting from ...
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What is the fine for the Citigroup consent order?
The $135.6 million fine is on top of the $400 million fine that Citi paid back in 2020 when the original consent order was signed. Citi will pay $61 million to the Fed and $75 million to the OCC as part of this round of penalties.
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What is a consent order from the OCC?
The consent order also suggests that the OCC is keen to intensify its supervision of such entities, and that it is willing to take enforcement action against any entities who should fall short of meeting their BSA/AML obligations.
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What does it mean when a bank gets a consent order?
A consent order is a binding legal order issued by financial regulators that requires an institution to formally address signNow violations of regulatory standards.
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