(a) Determination. The Board may, based upon an examination, inspection, or any other
information that becomes available to the Board, determine that a bank has
failed to satisfy the safety-and-soundness standards contained in the
Interagency Guidelines Establishing Standards for Safety and Soundness or the
Interagency Guidelines Establishing Standards for Safeguarding Customer
Information, set out in appendix D-1 and D-2 to part 208 of this chapter,
respectively.
(b) Request for compliance plan. If the Board determines that a state member bank has failed a
safety-and-soundness standard pursuant to paragraph (a) of this section, the
Board may request, by letter or through a report of examination, the
submission of a compliance plan, and the bank shall be deemed to have notice
of the request three days after mailing of the letter by the Board or
delivery of the report of examination.
