The number of severe enforcement actions handed out by federal regulators tumbled this year, according to a new analysis from SNL Financial.

As of Aug. 11, regulators filed 38 severe enforcement actions for the entire year, with 14 in the second quarter, five in July and one in August. That contrasts with 53 enforcement actions issued in the second half of 2014, with 30 of those in just the fourth quarter.

SNL Financial defines a severe enforcement action as cease and desist orders, prompt corrective action directives and formal agreements or consent orders handed to a bank or thrift by a federal regulator. The firm’s analysis did not include severe enforcement actions issued to holding companies or credit unions.

SNL said that 367 banks and thrifts were operating under a severe enforcement action at Aug. 11, compared with 468 at the end of last year and 662 at the end of 2013.

In New England, State Street Bank and Trust Co. and Santander, both headquartered in Boston, were listed among SNL’s ranking of banks and thrifts operating under a severe enforcement action this year.

SNL Financial: Severe Enforcement Actions Tumble In 2015

by Banker & Tradesman time to read: 1 min
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