I. SOURCE OF REQUIREMENTS
A. State and Federal Legislation
1. Self-enforcing laws
2. Regulatory agencies directed to implement laws by issuing rules and regulations
B. Regulatory Agencies
1. Issue rules and regulations
a. enforcement powers
b. information procedures and records
c. force and effect of statutes
2. Interpret laws and regulations
a. informal directives and circulars
b. official staff opinions
c. informal staff opinions
d. enforcement guidelines
e. other agency-type pronouncements
C. Judicial Review (State and Federal)
1. Interpretations of law (judicial construction)
2. Resolve disputes and conflicts
3. Constitutionality of legislation
D. Legislative Oversight
1. Investigations and needs assessments
2. Review of agency action and industry compliance
3. Propose legislation
II. BANK COMPLIANCE OBJECTIVES
A. Act in Accordance With the Requirements of:
1. law
2. rule; or
3. order
B. Ensure Bank Adopts Proper Procedures
C Ensure Bank Safety and Soundness
D. Eliminate Practices that Interfere with Bank Efficiency
E. Distinguish Between Procedural v. Substantive Laws
1. mechanical
2. discretionary
III. BANK INSTITUTIONAL OBJECTIVES
A. Favorable Reports/Examinations
B. Avoidance of Unfavorable Enforcement Action
C. Prevent/Deter Litigation
D. Prevent Bad/Defective Loans
E. Encourage Growth/Development of Bank
IV. BANK OFFICER OBJECTIVES
A. Develop Bank Professionalism
B. Enhance Banking Career
C. Advancement