(1) Notice and hearing. Except as otherwise provided in this section, the OCC may issue an order to terminate the license of a Federal branch or agency after providing notice to the Federal branch or agency and after providing an opportunity for a hearing.
(2) Procedures for hearing. The OCC shall conduct a hearing under this section pursuant to the OCC's Rules of Practice and Procedure in 12 CFR part 19.
(3) Expedited procedure. The OCC may act without providing an opportunity for a hearing if it determines that expeditious action is necessary in order to protect the public interest. When the OCC finds that it is necessary to act without providing an opportunity for a hearing, the OCC in its sole discretion, may:
(i) Provide the Federal branch or agency with notice of the intended termination order;
(ii) Grant the Federal branch or agency an opportunity to present a written submission opposing issuance of the order; or
(iii) Take any other action designed to provide the Federal branch or agency with notice and an opportunity to present its views concerning the termination order.