The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Financial Stability Oversight Council to submit a report to Congress regarding the implementation of prompt corrective action (PCA) by the Federal banking agencies. This book discusses the existing PCA framework and the findings and recommendations of the Government Accountability Office study. It also highlights lessons learned from the financial crisis and outlines actions taken that could affect PCA, as well as additional steps to modify the PCA framework that could be considered.
