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 fist order (15 pages long) to Cease and Desist issued by the FDIC to First Vietnamese American Bank was issued on 12/22/2006. The Bank opened its doors in mid 2005 to great fanfare. The FDIC considered the matter and determined that it had reason to believe that the Bank had engaged in unsafe or unsound banking practices and had committed violations of law and/or regulations. The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following: http://www.fdic.gov/bank/individual/enforcement/2006-12-03.pdf
