Administrative Orders are formal enforcement orders issued by the NCUA pursuant to Section 206 of the Federal Credit Union Act (FCUA) (12 U.S.C. § 1786). Generally, NCUA issues Administrative Orders when it finds that a credit union and/or persons affiliated with a credit union have violated a law, rule or regulation, or engaged in an unsafe or unsound practice.
The three most common orders issued by NCUA include:
An Order to Cease and Desist, which requires a party to take action (or refrain from taking action), including making restitution;
An Order of Prohibition, which prohibits a party from ever working for a federally insured financial institution; and
An Order Assessing Civil Money Penalties. Prior to the issuance of an Administrative Order, the FCUA provides due process rights, which include the ability to have an administrative hearing before the Office of Financial Institution Adjudication, and to appeal the agency's decision to issue an order to the U.S. Circuit Court of Appeals.
Civil Money Penalties for Late Call Report Filing
Consent Orders List - Credit Unions Agreeing to Pay a Civil Money Penalty for Missing the Quarterly Call Report Deadline
Enforcement actions against other institutions or their affiliated parties can be found at the website of the institution's regulator:
FDIC: http://www.fdic.gov/bank/individual/enforcement/
OCC: http://apps.occ.gov/EnforcementActions/
Federal Reserve Board: http://www.federalreserve.gov/apps/enforcementactions/search.aspx
*For information regarding enforcement actions issued federally chartered thrift associations on or after July 21, 2011, please visit the OCC Enforcement Actions page, which can be accessed by the link above.
