Press Releases FDIC Expands Fair Lending Examination Specialist Program Nationwide
FOR IMMEDIATE RELEASE PR-4-2004 (01-15-2004)
Media Contact: Rosemary George (202) 898-6530
The Federal Deposit Insurance Corporation (FDIC) today announced that it has expanded its fair lending examination program nationwide by appointing examination specialists in each of its six regions.
"This expansion of the FDIC's fair lending examination program builds on improvements made in recent years to enhance the quality and efficiency of fair lending examinations," said FDIC Chairman Don Powell. Some of these improvements include adoption of a risk-based approach to fair lending examinations; use of interagency fair lending examination procedures; additional senior fair lending specialists in the Washington headquarters office; and specialized training of compliance examiners conducting fair lending evaluations.
"Forming judgments of how to efficiently identify areas of risk and recognize possible discrimination often requires consultation with more experienced and knowledgeable fair lending experts," said Michael J. Zamorski, Director of the FDIC's Division of Supervision and Consumer Protection (DSC). "These fair lending examination specialists will provide expert guidance and assistance to compliance examiners during complex, judgment-based lending examinations, further strengthening an already strong fair lending program."
The fair lending examination specialists in each region will help ensure regional implementation of fair lending examination requirements; provide consultation and guidance to compliance examiners during examinations; conduct or participate in large or complex fair lending examinations; and coordinate fair lending consumer complaint investigations. In addition, they will coordinate ongoing fair lending communications and training within each region.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,237 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet at
www.fdic.gov or through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).