Financial supervisors released a statement Wednesday reiterating they are united when it comes to potential charter conversions.
Institutions will not be granted conversions while "serious or primary material enforcement actions" from their current regulator are pending, the statement said.
"Such requests could serve to delay or undermine appropriate supervisory actions that if left unsolved could place the institution at greater risk of failure," the statement read.
"Supervisors will only consider applications undertaken for legitimate reasons."
Institutions with poor Camels ratings or a negative Community Reinvestment Act standing won't be allowed to convert, the statement said.