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Board Report: 2019-SR-B-013 September 25, 2019

The Board Can Enhance Its Internal Enforcement Action Issuance and Termination Processes by Clarifying the Processes, Addressing Inefficiencies, and Improving Transparency

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The Board and the Reserve Banks play a significant role in supervising and regulating U.S. financial institutions. Based on the significance of the issues identified during the supervision process, a variety of enforcement tools can be used to compel an institution's management to address those issues. We assessed the efficiency and effectiveness of the Board's and the Reserve Banks' enforcement action issuance and termination processes and practices.

The Board and the Reserve Banks have implemented some effective practices to support the enforcement action issuance and termination processes. However, the Board can clarify certain aspects of these internal processes, such as the steps and Board stakeholders' roles and responsibilities; improve the timeliness and efficiency of its issuance and termination processes; and increase transparency about the status of enforcement actions.

Our report contains recommendations.