OFIA Law and Legal Definition

According to 12 CFR 263.3 [Title 12 -- Banks and Banking; Chapter II -- Federal Reserve System; Subchapter A -- Board of Governors of the Federal Reserve System; Part 263 -- Rules of Practice for Hearings’; Subpart A -- Uniform Rules of Practice and Procedure], OFIA means “the Office of Financial Institution Adjudication, the executive body charged with overseeing the administration of administrative enforcement proceedings for the Board, the Office of Comptroller of the Currency (the OCC), the Federal Deposit Insurance Corporation (the FDIC), the Office of Thrift Supervision (the OTS), and the National Credit Union Administration (the NCUA).”