C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 30—SAFETY AND SOUNDNESS STANDARDS

12 C.F.R. § 30.3

Determination and notification of failure to meet safety and soundness standards and request for compliance plan

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(a) Determination. The OCC may, based upon an examination, inspection, or any other information that becomes available to the OCC, determine that a national bank or Federal savings association has failed to satisfy the safety and soundness standards contained in the Interagency Guidelines Establishing Standards for Safety and Soundness set forth in appendix A to this part, the Interagency Guidelines Establishing Standards for Safeguarding Customer Information set forth in appendix B to this part, the OCC Guidelines Establishing Standards for Residential Mortgage Lending Practices set forth in appendix C to this part, the OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches set forth in appendix D to this part, or the OCC Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches set forth in appendix E to this part.

(b) Request for compliance plan. If the OCC determines that a national bank or Federal savings association has failed to satisfy a safety and soundness standard pursuant to paragraph (a) of this section, the OCC may request, by letter or through a report of examination, the submission of a compliance plan and the bank or savings association shall be deemed to have notice of the deficiency three days after mailing of the letter by the OCC or delivery of the report of examination.

[60 FR 35680, July 10, 1995, as amended at 63 FR 55488, Oct. 15, 1998; 64 FR 52641, Sept. 30, 1999; 66 FR 8633, Feb. 1, 2001; 70 FR 6332, Feb. 7, 2005; 79 FR 54543, Sept. 11, 2014; 81 FR 66800, Sept. 29, 2016]
Notes of Decisions
Cited in 4 cases, 2001–2003 · leading case: Damian Sinclair, Individually & as Assignee of Sinclair Nat'l Bank v. John D. Hawke, Jr., 314 F.3d 934 (8th Cir. 2003).
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Damian Sinclair, Individually & as Assignee of Sinclair Nat'l Bank v. John D. Hawke, Jr., 314 F.3d 934 (8th Cir. 2003). “See 12 C.F.R. § 30.3 (b). 2 • In September 2000, OCC officials demanded that SNB limit non-prime minority and low-income loans to one-hundred percent of the bank’s capital.”
Sinclair v. United States, 56 Fed. Cl. 270 (Fed. Cl. 2003). “The OCC submitted a deficiency notice, pursuant to 12 C.F.R. § 30.3 (b) (2003), to SNB on June 28, 2000, forcing plaintiff to submit a compliance plan to rectify the bank’s failure to meet certain operational standards.”
Sinclair v. United States, 49 Fed. Cl. 274 (Fed. Cl. 2001). “Soon thereafter, on June 28, 2000, the OCC served a “Notice of Deficiency” on SNB pursuant to 12 C.F.R. § 30.3 (b), which allows the OCC to request a bank to submit “a safety and soundness compliance plan” upon a determination that a bank is failing to meet operational and…”
Damian Sinclair v. John D. Hawke (8th Cir. 2003). “See 12 C.F.R. § 30.3 (b).2 • In September 2000, OCC officials demanded that SNB limit non-prime minority and low-income loans to one-hundred percent of the bank’s capital.”
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