| PRESS RELEASE
Bank Orders Increase DALLAS — (June 28, 2010) /PRNewswire/ Regulatory actions against U.S. financial institutions continued higher during the first quarter, albeit at a slower pace, based on a quarterly analysis by MortgageDaily.com — a leading source of online news and data for the mortgage industry.Federal regulators took 437 actions against banks and credit unions during the first quarter, a 6% increase from the previous quarter. Activity was up 88% from a year earlier. Regulatory actions have increased each of the last eight quarters.The analysis reflects actions reported by the FDIC, the Federal Reserve, the National Credit Union Administration, the OCC and the OTS. Actions by Quarter
Also lower were formal agreements, which often require institutions to shore up capital, improve operations or change management. But the number of civil money penalties jumped 40%.
Orders also increased at the OCC. But actions were down nearly a third at the OTS, while Fed actions were off 5%.
Last year, 140 federally insured banks failed. |
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The full regulatory actions report is available at: https://www.mortgagedaily.com/RegulatoryActions.asp Complete regulatory news is available at: About MortgageDaily.com CONTACT: Source: MortgageDaily.com |
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