The FDIC has been very busy issuing Cease and Desist orders this year. Through May, the FDIC has issued 104 Cease and Desist orders and this does not include any orders by the OCC or OTS. (ht Terry) br /br /Most of these oreders are very similar - here is an excerpt: blockquoteIT IS HEREBY ORDERED, that the Bank, its institution-affiliated parties, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), and its successors and assigns, cease and desist from the following unsafe and unsound banking practices, as more fully set forth in the FDIC’s Report of Visitation …:br /br /a) operating with management whose policies and practices are detrimental to the Bank and jeopardize the safety of its deposits;br /(b) operating with a board of directors which has failed to provide adequate supervision over and direction to the active management of the Bank;br /(c) strongoperating with a large volume of poor quality loans/strong;br /(d) engaging in unsatisfactory lending and collection practices;br /(e) operating in such a manner as to produce operating losses; andbr /(f) operating with inadequate provisions for liquidity.br /span style=”font-size:78%;”emphasis added/span/blockquoteAll of these institutions are ordered to make changes - and some do, and then the cease and desist order is terminated (15 orders have been teriminated). The remaining are BFF candidates.br /br /Here are the FDIC press releases this year:br /a href=”http://www.fdic.gov/news/news/press/2009/pr09099.html”May Cease and Desist Orders/a (23)br /br /a href=”http://www.fdic.gov/news/news/press/2009/pr09079.html”April Cease and Desist Orders/a (24)br /br /a href=”http://www.fdic.gov/news/news/press/2009/pr09056.html”March Cease and Desist Orders/a (23)br /br /a href=”http://www.fdic.gov/news/news/press/2009/pr09049.html”February Cease and Desist Orders/a (21)br /br /a href=”http://www.fdic.gov/news/news/press/2009/pr09029.html”January Cease and Desist Orders/a (13)div class=”blogger-post-footer”img width=’1′ height=’1′ src=’https://blogger.googleusercontent.com/tracker/10004977-3390559662098312794?l=www.calculatedriskblog.com’//div
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