December 4, 2012

15 Day Letter

Received a 15 day letter?  Goodwin Weber LLC has extensive experience in federal bank regulatory law and defense.

The federal banking agencies send 15 day letters to current or former bank officers, directors, employees, contractors or agents where the government is considering the initiation of a regulatory enforcement action.  Under federal law, the banking agencies can pursue civil money penalties, prohibition and removal from the industry, and cease and desist actions (including for restitution), against those who receive 15 day letters.   Thus, receipt of a 15 day letter is indication that the federal government is considering the institution of an enforcement action against you or your organization. If you or your organization receive a 15 day letter, one of your most important decisions should be to retain experienced counsel.

Goodwin Weber LLC has a nationwide practice, and represents officers and directors before all of the federal banking agencies, including the FDIC (state chartered non member banks and state chartered thrifts); OCC (national banks and federal thrifts); Federal Reserve Board (FRB) (state chartered member banks and bank and financial holding companies); CFPB (large bank consumer matters and non bank consumer matters); FinCEN (BSA); the Department of Housing and Urban Development (HUD); and the National Credit Union Administration (NCUA) (credit unions).  The firm has experience with depository institutions of all sizes, ranging from closely held community banks, to national and state banks with international presence.

If you have a matter that requires an experienced bank regulatory attorney, please contact us for a free initial consultation.