![]() ![]() a violation of law, rule, or regulation.Generally, the Board may use its cease-and-desist authority against a state member bank and any institution-affiliated party when it finds that a bank or party is engaging, has engaged, or is about to engage in The following statutory tools are available to the Board. ![]() The objective of formal action is to correct practices that the regulators believe to be unlawful, unsafe, or unsound. (See Life Cycle Topic: "The Supervisory Process and Regulatory Relations.") Formal Supervisory Actions Maintaining a close relationship with your primary regulator or bank supervisor is important and can help with enforcement issues. Generally, informal or formal enforcement actions are taken after a bank examination, but they might also be taken when a Reserve Bank becomes aware that a problem at a bank warrants immediate attention and correction. The Federal Reserve Board has a broad range of enforcement powers over both domestic and foreign financial institutions and over the individuals associated with them. ![]()
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