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• W252020771 abstract "There is one quick way to commit suicide in the banking business-fight a regulatory agency. Commercial banks and bank holding companies that get into trouble tend to stonewall. They dig in the defenses against the regulatory agency that created the problem. This posture is an easy way to shorten a career in banking. It could cost you a few dollars in civil penalties and even cause you to visit, on a more than temporary basis, one of the finer federal prisons in the United States. In the 25 years I have worked with over 300 banks and bank holding companies throughout the United States, I have noticed that boards of directors and senior management seem to think that state and federal regulatory agencies are just waiting for them to make a mistake. They even may occasionally pounce on the bank or holding company arbitrarily and capriciously. This hostile attitude usually leads to increased confrontation. And the bankers don't come out the winners. The sooner you realize that fact, the more progress you can make to alleviate the problem. At the same time, you can direct your energies toward running your banking organization. Critical reports. Regulatory agencies' critical comments and administrative orders to a banking organization usually do not crop up overnight. Problems may be accentuated by local economic conditions. Occasionally, significant deterioration in the quality of the loan portfolio may occur suddenly. (Witness the current blitzkrieg by state and federal bank examiners in the area of commercial real estate lending.) In most cases, though, the deterioration of financial conditions has been developing over several years, and management and the board of directors have failed to correct what the examiners find to be significant problems resulting from a lack of competency. Critical comments from the regulatory agencies should be considered a warning of disaster, not an attempt to give you a hard time. Such comments deserve a quick response by the board and bank management. A drop in your CAMEL rating of one or two points reveals a serious trend of deterioration in your portfolio and also indicates that you have not responded promptly. Take the regulatory finding at face value; don't take exception with the examiners. However, this doesn't mean you cannot take exception to a particular finding. For example, a bank I was working with was asked to take several corrective measures, which it did. In a follow-up report, the regulators noted several items that needed attention. The bank pointed out that the items in question had not been raised in the initial examination but had arisen during the follow-up visit. Therefore, the bank should not be criticized for ignoring these problems. The regulator agreed and amended the report. A critical report is not one person's work. The examiner in charge reports to a review examiner, who reports to a supervisor, who reports to the vice president in charge of the federal regulatory agency in the region or the superintendent of banks in the state. Examination reports and administrative orders are a product of review teams and reflect the collective wisdom of state and federal regulatory agencies-not just the opinion of one particular examiner. The final product of the chain of command should not be discounted because you have had a difficult time with a particular examination crew. If you think you can fight the entire Federal Reserve District Bank, or the district office of the Office of the Comptroller of the Currency, good luck. Write to me from wherever you end up. Call for action. When you receive a critical examination report, unfavorable correspondence, proposed memorandum of understanding, or cease and desist order, determine how to solve the problems quickly within the framework proposed by the regulatory agency. …" @default.
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• W252020771 title "Why It Doesn't Pay to Fight the Regulators" @default.
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