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Cease-and-Desist Order
       
 
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Cease-and-Desist Order

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Cease-and-Desist Order
An order issued after notice and opportunity for hearing, requiring a depository Institution, a holding company, or a depository Institution official to terminate unlawful, unsafe, or unsound banking practices.
    
Cease-and-desist orders are issued by the appropriate federal regulatory agencies under the Financial Institutions Supervisory Act and can be enforced directly by the courts. A cease and desist (also called C & D) is an order or request to halt an activity. The recipient of the cease-and-desist may be an individual or an organization.
    
The term is used in two different contexts. A cease-and-desist order can be issued by a judge or government authority, and has a well-defined legal meaning. In contrast, a cease-and-desist letter can be sent by anyone, although typically they are drafted by a lawyer.
Posted by  Institute for International Research
 
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