Over the past year, Guidehouse has observed an increasing trend in state regulatory activities. With several large-scale actions collaboratively enforced by multiple states, non-federal regulators are actively collaborating with each other and filling the gaps in today’s federal regulatory landscape. Starting this quarter, Guidehouse will include more detailed reporting of state actions to assist financial institutions in gaining a better and deeper understanding of state activity.
A total of 24 actions were levied by federal regulators in Q1 2019. The number of regulatory enforcement actions decreased 47% from Q4 2018 and was driven primarily by a decrease in activities from the Federal Deposit Insurance Corporation (FDIC).
The five major federal regulators issued 88% of total federal enforcement actions this quarter, with seven from the FDIC, five from the Office of the Comptroller of Currency (OCC), four from the Consumer Financial Protection Bureau (CFPB), four from the Department of Justice (DOJ), and one from the Federal Reserve Bank (FED). Among these federal regulators, the FED had its lowest number of actions in a single period observed over the past five quarters.
Federal Actions Highlights from Q1 2019:
Special thanks to contributors Caitlin Cremin and Siwen Tang.