Audit of Disciplinary Enforcement Actions
Against Bank Officers and Directors: Boston Regional Office

(Audit Report No. 98-044, April 28, 1998)

The Office of Inspector General has completed an audit of the Federal Deposit Insurance Corporation's (FDIC) disciplinary enforcement actions in the Boston region. The audit covered enforcement actions in process during the 2 years ended December 31, 1995.

The audit results showed that the Division of Supervision (DOS) and the Legal Division (Legal) adequately identified and prioritized a large volume of disciplinary enforcement action cases in the mid-1990s, but there were delays in assessing and processing some of these cases. Subsequent to our review, on October 15, 1996, DOS issued national disciplinary enforcement policy in a new manual, entitled DOS/DCA Formal and Informal Action Procedures Manual, that satisfactorily addressed the concerns raised during our audit.

We made no formal recommendations in this report. Accordingly, no corrective actions are necessary.

We provided a draft report for DOS and Legal's review and they did not offer any comments.