The FDIC Enforcement Decisions and Orders (ED&O) contains the full text of the formal enforcement actions against financial institutions that are regulated by the FDIC or against their affiliated parties. The ED&O is updated on a monthly basis.
The third order to Cease and Desist issued by the FDIC to First Vietnamese American Bank was issued on 05/13/2010 (8 pages long) in addition to the second order just 15 months earlier. The second order to Cease and Desist (15 pages long) issued by the FDIC to First Vietnamese American Bank was issued on 01/29/2009 just 25 months after the first Cease and Desist issued by the FDIC to First Vietnamese American Bank on 12/22/2006. The Bank, by and through its duly elected and acting Board of Directors (“Board”), has executed a Stipulation to the Issuance of a Consent Order (“Stipulation”), dated May 13, 2010, that is accepted by the FDIC. With the Stipulation, the Bank has consented, without admitting or denying any charges of unsafe or unsound banking, to the issuance of this Consent Order (“Order”) by the FDIC pursuant to Section 8(b)(1) of the FDI Act. The FDIC ordered that http://www.fdic.gov/bank/individual/enforcement/2010-05-05.pdf
