(a) Judicial remedies. Whenever a state member bank or company that
controls a state member bank fails to comply with a directive issued
under section 38, the Board may seek enforcement of the directive
in the appropriate United States district court pursuant to section
8(i)(1) of the FDI Act.
(b) Administrative remedies.
(1) Failure to
comply with directive. Pursuant to section 8(i)(2)(A) of the
FDI Act, the Board may assess a civil money penalty against any state
member bank or company that controls a state member bank that violates
or otherwise fails to comply with any final directive issued under
section 38 and against any institution-affiliated party who paticipates
in such violation or noncompliance.
(2) Failure to
implement capital-restoration plan. The failure of a bank to
implement a capital-restoration plan required under section 38, subpart
D of Regulation H (12 CFR part 208, subpart D) or this subpart, or
the failure of a company having control of a bank to fulfill a guarantee
of a capital-restoration plan made pursuant to section 38(e)(2) of
the FDI Act shall subject the bank or company to the assessment of
civil money penalties pursuant to section 8(i)(2)(A) of the FDI Act.
(c) Other enforcement
action. In addition to the actions described in paragraphs (a)
and (b) of this section, the Board may seek enforcement of the provisions
of section 38 or subpart B of Regulation H through any other judicial
or administrative proceeding authorized by law.
