The number of regulatory enforcement actions increased 7% from Q4 2017 to Q1 2018 and was driven primarily by an increase in activity from the Federal Reserve Bank (Fed). Sixty-seven percent of enforcement actions were issued by the five major federal agencies, with 11 from the Fed, 10 from the Federal Deposit Insurance Corporation (FDIC), seven from the Department of Justice (DOJ), four from the Office of the Comptroller of the Currency (OCC), and none from the Consumer Financial Protection Bureau (CFPB). Compared to Q4 2017, the FDIC, Fed, and DOJ all experienced an increase in actions, while the CFPB and OCC activity dropped. State or local regulators were involved in a total of 13 actions and maintained the top spot for the fourth straight quarter.
Special thanks to contributors Caitlin Cremin and Siwen Tang.