He discovered an array of unsound practices, like using long-term debt to pay for short-term expenditures.
The 1974-75 recessiopenedned yawning deficits and exposed years of unsound practices.
But by 1991 the bank was in trouble, and was cited by federal regulators for unsafe or unsound practices.
Several hours after those fines were announced, the U.S. Office of the Comptroller of the Currency said it fined JPMorgan and Citibank $350 million each and also fined Bank of America $250 million for "unsafe or unsound practices" related to their foreign exchange businesses.
193, provided authority for removal of directors or officers of national banks, District banks, or State member banks for continued violations of law or for continued unsafe or unsound practices in conducting the business of such banks.
The Fed, which is receiving $100m of the Standard Chartered fines, said it was imposing "one of the largest penalties" it had ever announced for "alleged unsafe and unsound practices" adopted by the bank.
Even though scholars continue to cite these hearings for the abusive and unsound practices that they uncovered, the record clearly demonstrates that the evidence cited either comes from secondary sources (rather than the actual hearings), is nonexistent, or is irrelevant because Glass-Steagall did not address the practice in question.
Systematic gift authorship or other unsound practices for inflating CVs (e.g. salami publications [31]) would show themselves as more extensive networking in the indices that I propose.
That is important because under federal law, the Federal Deposit Insurance Corporation can revoke a bank's insurance for engaging "in unsafe or unsound practices in conducting the business of the depository institution" that results in a criminal conviction.
My colleague Randy Wray and I have explained why BoA should be placed in receivership for its serial crimes and unsafe and unsound practices.
