Section 39 of the FDI Act requires the Board to establish
safety-and-soundness standards. Pursuant to section 39, a bank may be
required to submit a compliance plan if it is not in compliance with a
safety-and-soundness standard established by guideline under section 39(a) or
(b). An enforceable order under section 8 may be issued if, after being
notified that it is in violation of a safety-and-soundness standard
established under section 39, the bank fails to submit an acceptable
compliance plan or fails in any material respect to implement an accepted
plan. This subpart establishes procedures for requiring submission of a
compliance plan and issuing an enforceable order pursuant to section
39.
