Regulatory orders against federally insured financial institutions jumped 49 percent during the second quarter, according to an analysis of regulatory activity by MortgageDaily.com. A surge in civil money penalties, cease-and-desist orders and prohibition orders fueled the increase.
U.S. financial institutions, their employees or their former employees faced 263 regulatory actions during the second quarter, based on coverage at MortgageDaily.com. Activity included orders issued by the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
Activity jumped 49 percent from the first quarter. The majority of orders were issued by the FDIC.
