ing relationship, which has been finally adjudicated or de-
termined by any adjudicative, regulatory, or other govern-
mental authority.
‘‘(b) NOTICE AND PETITION BY OTHERS.—In addi-
tion to a national bank, any other person or entity (includ-
ing any Federal or State official, department, or agency)
may—
‘‘(1) file a notice with the Comptroller of the
Currency under subsection (a) of any violation de-
scribed in such subsection; and
‘‘(2) petition the Comptroller to prohibit any
further relationship between the national bank and
the person with respect to whom such notice is filed.
‘‘(c) PROHIBITION ON RELATIONSHIP.—
‘‘(1) IN GENERAL.—Upon receiving any notice
under subsection (a) or (b)(1) of any violation de-
scribed in subsection (a) by any agent or affiliate of
the national bank, or any other entity with which
the national bank maintains a correspondent bank-
ing relationship, the Comptroller of the Currency
shall serve on the national bank a written notice to
show cause why the Comptroller should not issue an
order prohibiting any further relationship between
the national bank and any such agent, affiliate, or
other entity.
‘‘(2) CONTENTS OF SHOW CAUSE NOTICE.—Any
notice served on a national bank by the Comptroller
of the Currency under paragraph (1) shall—
‘‘(A) contain a statement of the facts con-
stituting grounds for the prohibition order; and
‘‘(B) fix the time and place for a hearing
to determine whether a prohibition order shall
be issued against the national bank.
‘‘(3) NOTICE AND OPPORTUNITY FOR HEARING
BY 3RD PARTY.—If any person or entity filed a peti-
tion with the Comptroller of the Currency under
subsection (b)(2) concerning the relationship at issue
in the notice served by the Comptroller on the na-
tional bank, the Comptroller shall—
‘‘(A) provide, to such person or entity, a
copy of such notice; and
‘‘(B) provide such person or entity an op-
portunity to be heard on the record at the hear-
ing referred to in such notice.
‘‘(4) CEASE AND DESIST ORDER.—If the Comp-
troller of the Currency determines that—
‘‘(A) any violation of any Federal, State,
or foreign criminal law, banking or financial
services law, or labor law, or any regulation
prescribed under any such law, by any agent or
affiliate of the national bank, or any other enti-
ty with which the national bank maintains a
correspondent banking relationship, has been fi-
nally adjudicated or determined by any appro-
priate adjudicative, regulatory, or other govern-
mental authority; and
‘‘(B) good cause does not exist for con-
tinuing any relationship between the national
bank and such agent, affiliate, or other entity,
the Comptroller of the Currency may issue a cease
and desist order prohibiting the national bank from
any further involvement or relationship with such
agent, affiliate, or other entity, and requiring the
national bank to dispose of any direct or indirect
ownership interest of the national bank in any such
agent, affiliate, or other entity.
‘‘(5) APPLICABILITY
OF
SECTION
OF
FED-
ERAL
DEPOSIT
INSURANCE
ACT.—The provisions
and requirements of section 8 of the Federal Deposit
Insurance Act relating to any determination con-
cerning the issuance of a cease and desist order
under such section (except the standard), the scope
and content of any such order, any judicial review
of any such determination, the enforcement of any
such order, and the penalties for violating any such
order shall apply with respect to any cease and de-
sist order issued under this section.
‘‘(d) FOREIGN BANKS.—Any foreign bank having a
Federal branch or agency (as such terms are defined in
section 1(b) of the International Banking Act of 1978)
shall be treated as a national bank for purposes of this
section.’’.
(b) CLERICAL AMENDMENT.—The table of sections
for chapter one of title LXII of the Revised Statutes of
the United States is amended by inserting after the item
relating to section 5156A the following new item:
‘‘5156B. Prohibition on relations between national banks and certain viola-
tors.’’.
Æ