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Licensing and Enforcement Measures

Licensing Activities

The Office of the Comptroller of the Currency's (OCC’s) licensing activities ensure that the corporate structures of banks are established and maintained in accordance with the principles of a safe and sound federal banking system as predicated by law and regulation. The OCC’s licensing division works with the agency’s legal and supervisory departments to render independent decisions supported by a sound record of facts and thoughtful financial, supervisory, and legal analyses. The OCC’s licensing activities in 2017 for the federal banking system are depicted in the following tables.

Categories FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
Branches 1,439 1,765 1,645 1,872 1,673 1,251 906 812 917 844 696 380 353 357 366
Capital/sub-debt 119 136 141 167 135 170 303 269 224 174 97 82 83 43 56
Change in bank control 16 16 17 9 8 5 15 8 4 10 8 14 12 9 9
Charters 29 31 26 47 32 33 21 17 6 2 2 2   1 2
Charter conversions* 19 21 15 15 25 7 13 4 8 5 12 8 6 5 7
Federal branches 4 4 2 3 1 3 1 2 2 5   1     3
Fiduciary powers 37 22 22 30 6 11 16 13 9 16 7 5 2 2 3
Mergers 61 90 69 62 49 46 57 71 70 98 92 102 75 78 63
Relocations 236 288 259 274 277 291 230 168 187 197 190 223 201 189 186
Substantial change in assets     4 3 4 5 6 4 2 26 27 17 21 5 8
Subsidiaries 85 81 23 27 14 23 57 58 107 148 48 46 18 46 52
Operations       5 2   3   31 35 4 4      
Stock appraisals   1 2   2 1 1                
LTD NB upgrade       5 2   3   1            
Bylaw/charter (FSAs only)                 8 73          
Sasser/conversions out                 9 38          
Mutual to stock conversions                     3 4 5 2 1
Reorganizations (national banks only) 115 137 116 123 108 111 81 49 71 53 53 44 62 31 25
Total 2,160 2,592 2,341 2,637 2,336 1,957 1,710 1,475 1,656 1,724 1,239 932 838 768 781

*Conversions to OCC-regulated bank.

Licensing Activities

The Office of the Comptroller of the Currency's (OCC’s) licensing activities ensure that the corporate structures of banks are established and maintained in accordance with the principles of a safe and sound federal banking system as predicated by law and regulation. The OCC’s licensing division works with the agency’s legal and supervisory departments to render independent decisions supported by a sound record of facts and thoughtful financial, supervisory, and legal analyses. The OCC’s licensing activities in 2017 for the federal banking system are depicted in the following tables.

 

  2013 2014 2015 2016 2017
Received 8 14 12 9 9
Acted on 6 9 11 9 7
Not disapproved 6 9 11 9 7
Disapproved 0 0 0 0 0
Withdrawn 0 0 1 0 0
Total 20 32 35 27 23

Licensing Activities

The Office of the Comptroller of the Currency's (OCC’s) licensing activities ensure that the corporate structures of banks are established and maintained in accordance with the principles of a safe and sound federal banking system as predicated by law and regulation. The OCC’s licensing division works with the agency’s legal and supervisory departments to render independent decisions supported by a sound record of facts and thoughtful financial, supervisory, and legal analyses. The OCC’s licensing activities in 2017 for the federal banking system are depicted in the following tables.

Licensing Actions and Timeliness, National Banks and FSAs, FY 2016 and FY 2017

    FY 2016 FY 2017
      Within target   Within target
  Target time frames in days Number of decisions Number Percent Number of decisions Number Percent
Branches 45/60 316 315 100 330 324 98
Capital/sub-debt 15/45 46 44 96 53 52 98
Change in bank control NA/120 9 9 100 7 5 71
Charters 45/60 1 1 100 1 1 100
Charter conversions 60/120 2 2 100 7 7 100
Federal branches NA/120 1 1 100 0 0 ----
Fiduciary powers 30/60 3 3 100 2 2 100
Mergers 45/60 69 67 97 70 64 91
Relocations 45/60 165 162 98 172 169 98
Reorganizations 45/60 32 32 100 22 21 95
Subsidiaries 30/60 32 30 94 49 47 96
Substantial change in assets NA/60 9 9 100 4 3 75
Mutual to stock conversions NA/60 2 2 100 2 2 100
Total   687 677 98 719 697 97

Note: Most of the decisions (93 percent in 2016 and 96 percent in 2017) were made in the district offices and large bank licensing under delegated authority. Decisions include approvals, conditional approvals, and denials. NA means not applicable.

Note: Certain filings qualify for “expedited review” and are subject to the shorter time frames listed. The longer time frames are for standard review of more complex applications. The target time frame may be extended if the OCC needs additional information to reach a decision, permits additional time for public comment, or processes a group of related filings as one transaction.

Enforcement Measures

The OCC investigates, litigates, and takes enforcement actions, such as CMPs, suspensions and removals, and cease-and-desist orders, to correct unsafe or unsound banking practices and failures in compliance. When warranted, the OCC refers criminal acts involving bank-affiliated parties to the U.S. Department of Justice and coordinates with other federal agencies on enforcement efforts involving national banks and FSAs. The table below describes the OCC’s enforcement actions in 2017.

OCC Enforcement Actions, FY 2017

Type of enforcement action Number Amount
12 USC 1829 removal 11  
Bank civil money penalty 6 $50,683,920*
Capital restoration plan 3  
Cease-and-desist order 6  
Formal agreement 9  
Institution-affiliated parties restitution to bank by order 7 $1,641,880
Letter of reprimand 1  
Memorandum of understanding 3  
Operating agreement 5  
Orders of investigation 7  
Part 3 individual minimum capital ratio 5  
Part 19K suspension 1  
Personal cease-and-desist order 7  
Personal civil money penalty 26 $361,000
Prompt corrective action directive 1  
Regulatory conditions in writing 2  
Removal/prohibition 26  
Safety and soundness plan 4  
Supervisory letter 25  
Total 155 $52,686,800

* Includes only assessed penalties and does not include remediation to customers that the OCC may have required of the bank.  

Licensing Activities

The Office of the Comptroller of the Currency's (OCC’s) licensing activities ensure that the corporate structures of banks are established and maintained in accordance with the principles of a safe and sound federal banking system as predicated by law and regulation. The OCC’s licensing division works with the agency’s legal and supervisory departments to render independent decisions supported by a sound record of facts and thoughtful financial, supervisory, and legal analyses. The OCC’s licensing activities in 2017 for the federal banking system are depicted in the following tables.

Applications Presenting CRA Issues Decided, FY 2017

Bank, city, state Approval date Document number
BOKF, National Association, Tulsa, Okla. October 19, 2016 CRA decision No. 178
People’s United Bank, National Association, Bridgeport, Conn. February 2, 2017 CRA decision No. 179
First National Bank of Pennsylvania, Greenville, Pa. February 24, 2017 CRA decision No. 180
UMB Bank, National Association, Kansas City, Mo. March 17, 2017 CRA decision No. 181
TD Bank, National Association, Wilmington, Del. May 18, 2017 CRA decision No. 182
EverBank, Jacksonville, Fla. March 13, 2017 CRA decision No. 183
Community Bank, National Association, Canton, N.Y. April 6, 2017 CRA decision No. 184
Sterling National Bank, Montebello, N.Y. August 16, 2017 CRA decision No. 185