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This section provides an overview of recently released regulations and other items of interest, arranged in reverse chronological order. Press Release (PR) and Financial Institution Letter (FIL) designations are included so the reader can obtain more information.
| ACRONYMS and DEFINITIONS | |
|---|---|
| CFPB | Consumer Financial Protection Bureau |
| FDIC | Federal Deposit Insurance Corporation |
| FFIEC | Federal Financial Institutions Examination Council |
| FRB | Federal Reserve Board |
| NCUA | National Credit Union Administration |
| OCC | Office of the Comptroller of the Currency |
| Federal bank regulatory agencies | FDIC, FRB, and OCC |
| Federal financial institution regulatory agencies | CFPB, FDIC, FRB, NCUA, and OCC |
Regulatory and Supervisory Roundup
| Subject | Summary |
|---|---|
| Consolidated Reports of Condition and Income (FIL-45-2016, July 6, 2016) | As part of its community bank Call Report burden-reduction initiative, the FFIEC has approved a number of burden-reducing changes to the Call Report, as well as certain new and revised data items and instructional revisions. Subject to approval by the U.S. Office of Management and Budget, these Call Report revisions will take effect on either September 30, 2016, or March 31, 2017, depending on the change. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16045.html |
| Information Technology Risk Examination (InTREx) Program (FIL-43-2016, June 30, 2016) | The FDIC updated its information technology and operations risk (IT) examination procedures to provide a more efficient, risk-focused approach. The InTREx Program also provides a cybersecurity preparedness assessment and discloses more detailed examination results using component ratings. See https://fdic.gov/news/news/financial/2016/fil16043.html |
| Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits (FIL-42-2016, June 30, 2016) | The FDIC is finalizing updates to its Frequently Asked Questions (FAQs) regarding identifying, accepting and reporting brokered deposits. The FDIC released proposed updates for comment in November 2015. After consideration of the comments received, the FDIC retained a majority of the proposed updates, with certain clarifications and new FAQs. This Financial Institution Letter supersedes FIL-2-2015 and FIL-51-2015. See https://fdic.gov/news/news/financial/2016/fil16042.html |
| FDIC Initiates Small Business Lending Survey (PR-54-2016, June 28, 2016) | The FDIC announced the launch of a survey of banks regarding their small business lending practices. The web-based survey of roughly 2,000 randomly selected FDIC-insured banks will begin in late June and will be administered by the U.S. Census Bureau on behalf of the FDIC. The Small Business Lending Survey (SBLS) will collect data that provide additional insight into many aspects of small business lending, including nationally representative information on the general characteristics of banks’ small business borrowers, the types of credit offered to small businesses, and the relative importance of commercial lending for banks of different sizes and business models. See https://fdic.gov/news/news/press/2016/pr16054.html |
| Proposed Rulemaking to Remove References to Credit Ratings from the FDIC’S International Banking Regulations (FIL-40-2016, June 22, 2016) | The FDIC adopted the Notice of Proposed Rulemaking (NPR) and request for comment, which would amend the FDIC’s international banking regulations related to permissible investment activities and the pledging of assets. The proposed rule would remove references to external credit ratings and replace them with appropriate standards of creditworthiness. Comments will be solicited on this NPR for 60 days following publication in the Federal Register. See https://fdic.gov/news/news/financial/2016/fil16040.html |
| Agencies Issue Host State Loan- to-Deposit Ratios (PR-52-2016, June 17, 2016) | The federal bank regulatory agencies issued the host state loan-to-deposit ratios they will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year’s ratios, which were released on June 29, 2015. In general, Section 109 prohibits a bank from establishing or acquiring a branch or branches outside its home state primarily for the purpose of deposit production. Section 109 also prohibits branches of banks controlled by out-of-state bank holding companies from operating primarily for the purpose of deposit production. See https://fdic.gov/news/news/press/2016/pr16052.html |
| Joint Statement on the New Accounting Standard on Financial Instruments – Credit Losses (FIL-39-2016, PR-51-2016, June 17, 2016) | The federal financial institution regulatory agencies have issued a Joint Statement on the New Accounting Standard on Financial Instruments – Credit Losses regarding the Financial Accounting Standards Board’s new standard, which introduces the current expected credit losses methodology (CECL) for estimating allowances for credit losses. This statement also provides initial supervisory views regarding the implementation of the new accounting standard. See https://fdic.gov/news/news/financial/2016/fil16039.html |
| FFIEC Joint Statement on Cybersecurity of Interbank Messaging and Wholesale Payment Networks (FIL-37-2016, June 7, 2016) | The FDIC, working with the FFIEC, issued a statement advising financial institutions to actively manage the risks associated with interbank messaging and wholesale payment networks. This guidance was issued in response to recent cyberattacks targeting interbank messaging and wholesale payment networks, resulting in large-dollar fraud at several foreign institutions. See https://fdic.gov/news/news/financial/2016/fil16037.html |
| FDIC Report Shows Mobile Banking Can Help Underserved Consumers (PR-42-2016, May 25, 2016) | The FDIC released a report documenting how mobile banking can help underserved consumers obtain more control over their finances and increase access to mainstream banking. The report was released at a meeting of the FDIC’s Advisory Committee on Economic Inclusion (ComE-IN), which focused on Mobile Financial Services (MFS).
The report, Opportunities for Mobile Financial Services to Engage Underserved Consumers, identifies a set of strategies for banks to consider to better position them to meet underserved consumers’ needs. See https://www.fdic.gov/news/news/press/2016/pr16042.html |
| Interagency Guidance: Deposit Reconciliation Practices (FIL-35-2016, May 18, 2016) | The federal financial institution regulatory agencies issued guidance to ensure financial institutions are aware of agencies’ supervisory expectations regarding deposit-reconciliation practices that may be detrimental to customers. This guidance addresses a set of situations in which customers make deposits to accounts and the dollar amount that the financial institution credits to that account differs from the total of the items deposited. This guidance also highlights the various laws and regulations relevant to deposit- reconciliation practices. See https://fdic.gov/news/news/financial/2016/fil16035.html |
| Interagency Notice of Proposed Rulemaking: Incentive-Based Compensation Arrangements (FIL-34-2016, PR-39-2016 , May 16, 2016) | The FDIC approved a second joint NPR to implement Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The NPR seeks to strengthen the incentive- based compensation practices at covered institutions by better aligning the financial rewards for covered persons with an institution’s long-term safety and soundness. This NPR was published in the Federal Register on June 10, 2016, with a public comment period to close on July 22, 2016. See https://fdic.gov/news/news/financial/2016/fil16034.html |
| Net Stable Funding Ratio: Proposed Rule (FIL-33-2016, PR-35-2016, May 6, 2016) | The federal bank regulatory agencies issued a proposed rule that would implement a liquidity requirement consistent with the net stable funding ratio (NSFR) agreed to by the Basel Committee on Banking Supervision. The NSFR would reduce the likelihood that disruptions to a banking organization’s regular sources of funding would compromise its liquidity position. See https://www.fdic.gov/news/news/financial/2016/fil16033.html |
| FDIC Highlights Resources on Banking for Small Businesses During National Small Business Week (PR-37-2016, May 6, 2016) | The FDIC highlighted the agency’s resources to help small businesses get the most from their banking relationships. The information is being emphasized to coincide with National Small Business Week, May 1-7. FDIC provides Money Smart for Small Business, a practical introduction to topics related to starting and managing a business, as a free educational tool.
See https://www.fdic.gov/news/news/press/2016/pr16037.html |
| Request for Comments on Mobile Financial Services Strategies and Participation in Economic Inclusion Demonstrations (FIL-32-2016, May 3, 2016) | The FDIC is seeking input from financial institutions, consumer groups, and other stakeholders on its plans for exploring the economic inclusion potential of mobile financial services (MFS). The FDIC is interested in demonstrating how MFS can be successfully leveraged to promote and support underserved consumers’ banking relationships. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16032.html |
| Mobile Financial Services: Update to FFIEC IT Examination Handbook Series (FIL-31-2016, April 29, 2016) | The FFIEC issued a new appendix, Mobile Financial Services, to the Retail Payment Systems booklet of the FFIEC Information Technology Handbook. The appendix provides guidance to assist examiners in evaluating the risks associated with mobile financial services. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16031.html |
| Updated Financial Institution Employee’s Guide to Deposit Insurance (FIL-30-2016, April 27, 2016) | The FDIC updated the Financial Institution Employee’s Guide to Deposit Insurance. The Guide is designed primarily as a resource for bank employees to understand the FDIC’s rules and requirements for deposit insurance coverage so they can assist depositors in understanding FDIC deposit insurance coverage. See https://www.fdic.gov/news/news/financial/2016/fil16030.html |
| Small Bank Pricing – Final Rule (FIL-28-2016, PR-32-2016, April 26, 2016) | The FDIC approved the final rule to improve the deposit insurance assessment system for established small insured depository institutions (generally, those banks with less than $10 billion in total assets that have been insured for at least five years). The final rule is revenue neutral, allows for deposit insurance premiums to decrease once the Deposit Insurance Fund reserve ratio reaches 1.15 percent, and does not require additional reporting by the banks. The final rule is effective July 1, 2016. See https://www.fdic.gov/news/news/financial/2016/fil16028.html |
| National Financial Capability Month and Free Financial Education Tools from FDIC (PR-29-2016, April 8, 2016) | The FDIC marked National Financial Capability Month in April by highlighting educational opportunities for adults and young people to build their financial knowledge and skills. The FDIC’s Money Smart program includes a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills.
See https://www.fdic.gov/news/news/press/2016/pr16029.html |
| Supplemental Guidance Related to the FDIC Statement of Policy on Applications for Deposit Insurance (FIL-24-2016, April 6, 2016) | The FDIC issued guidance in the form of supplemental “Questions and Answers” (Q&As) to aid applicants in developing proposals for deposit insurance. The supplemental Q&As, which address business planning, provide additional transparency to the application process and supplement the guidance issued November 20, 2014, through Financial Institution Letter FIL-56-2014. See https://www.fdic.gov/news/news/financial/2016/fil16024.html |
| FDIC Rescinds De Novo Time Period Extension; Releases Supplemental Guidance on Business Planning (PR-27-2016, April 6, 2016) | The FDIC rescinded FIL 50-2009, Enhanced Supervisory Procedures for Newly Insured FDIC- Supervised Depository Institutions. The FIL extended the de novo period for newly organized, state nonmember institutions from three to seven years for examinations, capital maintenance, and other requirements . The FDIC also issued a supplement to its November 2014 guidance related to the Statement of Policy on Applications for Deposit Insurance. The guidance aids applicants who are developing proposals for deposit insurance.
See https://www.fdic.gov/news/news/press/2016/pr16027.html |
| FDIC Announces Community Banking Conference “Strategies for Long-Term Success" (PR-23-2016, March 22, 2016) | The FDIC announced that it will bring together community bankers, regulators, researchers, and others for a conference on community banking on April 6 in Arlington, VA. As part of the FDIC’s Community Banking Initiative, the conference will explore strategies for long-term success in the community banking sector. The conference will feature panel discussions on successful community bank business models, key regulatory developments, opportunities and challenges in managing technology, and ownership structure and succession planning.
See https://www.fdic.gov/news/news/press/2016/pr16023.html |
| Interagency Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards (FIL-21-2016, PR-22, 2016, March 21, 2016) | The federal bank regulatory agencies and the Financial Crimes Enforcement Network (FinCEN) issued guidance to clarify existing Customer Identification Program (CIP) requirements for banks that issue prepaid cards. See https://www.fdic.gov/news/news/financial/2016/fil16021.html |
| FDIC Board Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level (PR-21-2016, March 15, 2016) | The FDIC approved a final rule to increase the Deposit Insurance Fund (DIF) to the statutorily required minimum level of 1.35 percent. Congress in the Dodd-Frank Act increased the minimum for the DIF reserve ratio from 1.15 percent to 1.35 percent, and required that the ratio reach that level by September 30, 2020. See https://www.fdic.gov/news/news/press/2016/pr16021.html |
| FDIC Issues Technical Assistance Video on Outsourcing Technology Service s (FIL-19-2016, March 14, 2016) | As part of the FDIC’s Community Banking Initiative and Technical Assistance Video Program, the FDIC announced the release of a new video on outsourcing technology services. The video is designed to assist community bank directors and senior management in developing a comprehensive risk-assessment program for vendor management. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16019.html |
| FDIC Updates Flood Insurance Videos (FIL-18-2016, March 10, 2016) | The FDIC released updated technical assistance videos on flood insurance. The videos provide financial institution management, compliance officers, and staff with resources for better understanding of federal flood insurance laws, regulations, and compliance responsibilities. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16018.html |
| FDIC Publishes a Bank Customer’s Guide to Cybersecurity (PR-18-2016, March 8, 2016) | The FDIC released a special edition of FDIC Consumer News (Winter 2016) entitled “A Bank Customer’s Guide to Cybersecurity.” This publication discusses safety precautions to take before connecting to the Internet with a personal computer, laptop, smartphone, or tablet; tips on how to avoid identity theft online; and what to know about the roles that banks and the government play in protecting customers. See https://www.fdic.gov/news/news/press/2016/pr16018.html |
| Joint Interim Final Rules and Request for Comments on Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks (FIL-17-2016, March 4, 2016) | The federal financial institution regulatory agencies have jointly adopted interim final rules permitting insured depository institutions (IDIs) with up to $1 billion in total assets, and that meet certain other criteria, to qualify for an 18-month on-site examination cycle instead of a 12-month cycle. The implementation of these rules allows the agencies to better focus supervisory resources on IDIs that present capital, managerial or other issues of supervisory concern, while reducing regulatory burden on small, well-capitalized and well-managed institutions.
See https://www.fdic.gov/news/news/financial/2016/fil16017.html |
| Federal Bank Regulatory Agencies Clarify Supervisory Expectations for Evaluations (FIL-16-2016, PR-17-2016, March 4, 2016) | The federal bank regulatory agencies issued an advisory to clarify supervisory expectations for using an evaluation for certain real estate-related transactions in response to questions arising from outreach meetings held pursuant to the Economic Growth and Regulatory Paperwork Reduction Act (EGRPA). Many questions pertained to when an evaluation is permitted for a real estate-related transaction and how an evaluation can support a market value conclusion when there are few or no recent comparable sales of similar properties.
See https://www.fdic.gov/news/news/financial/2016/fil16016.html |
| Capital Treatment for Qualifying Collateralized Debt Obligations Backed by Trust-Preferred Securities Under The Volcker Rule (FIL-15-2016, March 4, 2016) | The federal financial institution regulatory agencies have issued a Frequently Asked Question document to clarify the capital treatment of certain Collateralized Debt Obligations backed by Trust Preferred Securities (TruPS CDO) under Section 13 of the Bank Holding Company Act, which implements Section 619 of the Dodd-Frank Act, also known as the “Volcker Rule.” See https://www.fdic.gov/news/news/financial/2016/fil16015.html |
| FDIC Clarifies Discontinuation of Foreclosure Proceedings (FIL-14-2016, March 2, 2016) | The FDIC is clarifying supervisory expectations in existing guidance for institutions’ risk-management practices for decisions to discontinue foreclosure proceedings after initiating such actions, which are commonly referred to as abandoned foreclosures. Institutions should have appropriate policies and practices pertaining to decisions to discontinue foreclosure actions. See https://www.fdic.gov/news/news/financial/2016/fil16014.html |
| FDIC Announces Webinar for National Consumer Protection Week 2016: Cybersecurity Resources for Financial Institution Customers (FIL-13-2016, March 2, 2016) | The FDIC will host a free webinar on March 9, 2016, from 2:00 p.m. to 3:00 p.m. (EST) titled Cybersecurity Resources to Help Your Customers Protect Themselves. The webinar will highlight new and enhanced consumer education resources available from the FDIC that encourage financial institution customers (consumers and businesses) to take appropriate safety precautions for using computers and the Internet. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16013.html |
| Federal Bank Regulatory Agencies Issue Guidance on Funds Transfer Pricing Related to Funding and Contingent Liquidity Risks (FIL-12-2016, March 1, 2016) | The federal bank regulatory agencies issued guidance to clarify supervisory expectations for an effective funds transfer pricing (FTP) framework. The guidance builds on the principles of sound liquidity risk-management practices outlined in existing regulatory guidance. The guidance advises on how to effectively apply FTP to align risk-taking incentives of individual business lines with the firm’s overall risk appetite. The interagency guidance describes key principles that should comprise an FTP framework and includes examples for implementing these principles.
See https://www.fdic.gov/news/news/financial/2016/fil16012.html |
| Federal Bank Regulatory Agencies Expand Number of Banks and Savings Associations Qualifying for 18-Month Examination Cycle (PR-11-2016, February 19, 2016) | Federal bank regulatory agencies increased the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle. The changes are intended to reduce regulatory compliance costs for smaller institutions, while maintaining safety-and- soundness protections. See https://www.fdic.gov/news/news/press/2016/pr16011.html |
| FDIC Board Approves Proposal on Deposit Account Recordkeeping Requirements to Facilitate Timely Access to Deposits in Large Bank Failures (PR-10-2016, February 17, 2016) | The FDIC Board approved a proposal for recordkeeping requirements for FDIC-insured institutions with a large number of deposit accounts to facilitate rapid payment of insured deposits to customers if the institutions were to fail. The proposed rule would apply to insured depository institutions with more than 2 million deposit accounts. The FDIC is not proposing or considering making these requirements applicable to smaller institutions, including community banks.
See https://www.fdic.gov/news/news/press/2016/pr16010.html |
| FDIC Releases Economic Scenarios for 2016 Stress Testing (PR-9-2016, February 9, 2016) | The FDIC released economic scenarios that will be used by certain financial institutions with total consolidated assets of more than $10 billion for stress tests required under the Dodd-Frank Act. The baseline, adverse, and severely adverse scenarios include key variables that reflect economic activity, including unemployment, exchange rates, prices, income, interest rates, and other salient aspects of the economy and financial markets.
See https://www.fdic.gov/news/news/press/2016/pr16009.html |
| FDIC Releases Updated Interest Rate Risk Videos (FIL-10-2016, February 3, 2016) | The FDIC announced the release of updated videos on interest rate risk. The new videos provide financial institution directors, management, and staff with resources for better understanding interest rate risk and how it can be prudently managed. See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16010.html |
| Notice of Proposed Rule Making on Small Bank Pricing (FIL-7-2016, PR-4-2016, January 21, 2016) | The FDIC Board approved a NPR that would refine the deposit insurance assessment system for small insured depository institutions (generally, those institutions with less than $10 billion in total assets). Under the revised NPR, refinements would become operative the quarter after the reserve ratio of the DIF reaches 1.15 percent (or the quarter after a final rule is adopted, whichever is later). The NPR will be published in the Federal Register on February 4, 2016. The public comment period will close on March 7, 2016. See https://www.fdic.gov/news/news/financial/2016/fil16007.html |
| FDIC Announces Series of Seminars on Deposit Insurance Coverage (FIL-6-2016, January 19, 2016) | The FDIC will conduct six live seminars on FDIC deposit insurance coverage for bank employees and bank officers between February 23, 2016 and December 5, 2016. The FDIC also developed three Deposit Insurance Coverage Seminars for bank officers and employees, which are now available on the FDIC’s YouTube channel. The live and the YouTube deposit insurance coverage seminars will provide bank employees with an understanding of how to calculate deposit insurance coverage.
See https://www.fdic.gov/news/inactive-financial-institution-letters/2016/fil16006.html |
| Interagency Advisory on External Audits of Internationally Active U.S. Financial Institutions (FIL-5-2016, January 15, 2016) | The federal bank regulatory agencies issued an advisory to indicate support for the principles and expectations set forth in the Basel Committee on Banking Supervision’s March 2014 guidance on “External audits of banks” (BCBS external audit guidance). The advisory explains the agencies’ supervisory expectations regarding how internationally active U.S. financial institutions should address differences between the standards and practices followed in the United States and the principles and expectations in the BCBS external audit guidance.
See https://www.fdic.gov/news/news/financial/2016/fil16005.html |
| Bank Regulatory Agencies and CDFI Fund to Sponsor National Interagency Community Reinvestment Conference (PR-1-2016, January 6, 2016) | The federal bank regulatory agencies, the Federal Reserve Bank of San Francisco, and the Community Development Financial Institutions Fund will host the 2016 National Interagency Community Reinvestment Conference in Los Angeles from February 8 – 10, 2016. This biennial conference offers participants the opportunity to learn about the Community Reinvestment Act (CRA) and discuss best practices and emerging challenges in community development.
See https://www.fdic.gov/news/news/press/2016/pr16001.html |
| Federal Bank Regulatory Agencies Release Annual CRA Asset-Size Threshold Adjustments (PR-101-2015, December 22, 2015) | The federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the CRA regulations. The annual adjustments are required by the CRA rules. See https://www.fdic.gov/news/news/press/2015/pr15101.html |
| Federal Bank Regulatory Agencies Issue Statement on Prudent Risk Management for CRE Lending (FIL-62-2015, PR-100-2015, December 18, 2015) | The federal bank regulatory agencies issued an interagency statement to highlight prudent risk- management practices from existing guidance that regulated financial institutions should apply in the management of their commercial real estate (CRE) lending activity. Financial institutions should implement risk-management practices and maintain capital levels commensurate with the level and nature of their CRE concentration risk. See https://www.fdic.gov/news/news/financial/2015/fil15062.html |
| Federal Bank Regulatory Agencies Seek Comment on Effort to Reduce Regulatory Burden (PR-98-2015, December 17, 2015) | The federal bank regulatory agencies approved a notice requesting comment on the fourth and final set of regulatory categories as part of their review to identify outdated or unnecessary regulations applied to insured depository institutions. EGRPRA requires the federal bank regulatory agencies to review their regulations at least every 10 years.
See https://www.fdic.gov/news/news/press/2015/pr15098.html |
| Federal Financial Institution Regulatory Agencies Adopt Final Rule To address Margin and Capital Requirements for Covered Swap Entities (FIL-61-2015, December 16, 2015) | The federal financial institution regulatory agencies adopted a final rule to implement Sections 731 and 764 of the Dodd-Frank Act. These sections require the agencies to adopt rules jointly to establish capital requirements and initial and variation margin requirements for all non-cleared swaps and non-cleared security-based swaps of dealers and major participants. The capital requirements under these sections have been previously incorporated in the agencies’ capital rules.
See https://www.fdic.gov/news/news/financial/2015/fil15061.html |
| FDIC Issues Final Rule Amending the Filing Requirements and Processing Procedures for Changes in Control (FIL-60-2015, December 16, 2015) | The final rule amending the FDIC’s filing requirements and processing procedures for notices filed under the Change in Bank Control Act consolidates and conforms the regulations of state nonmember banks, state savings associations, and certain parent companies, and makes existing FDIC practices more transparent. The final rule adopts certain provisions intended to establish consistency with the regulations of the other federal banking agencies. The final rule takes effect January 1, 2016.
See https://www.fdic.gov/news/news/financial/2015/fil15060.html |
| Federal Bank Regulatory Agencies Issue Statement Regarding Basel Committee’s Second Consultative Paper (PR-96-2015, December 10, 2015) | The Basel Committee on Banking Supervision published a consultative paper, “Revisions to the Standardized Approach for credit risk,” which is the Committee’s second consultative paper on the topic. These proposed revisions would apply primarily to large, internationally active banking organizations and not to community banking organizations. The federal bank regulatory agencies will consider the proposals outlined in the consultative paper with the goal of developing a stronger and more transparent risk-based capital framework for the largest institutions.
See https://www.fdic.gov/news/news/press/2015/pr15096.html |
| FDIC Revises the Compliance Examination Manual (FIL-59-2015, December 4, 2015) | The FDIC revised the Compliance Examination Manual (Manual) to reflect recent supervisory guidance. The Manual provides guidance to FDIC examination staff for evaluating financial institutions for compliance with federal consumer protection laws and regulations. The Manual, which is available on the FDIC’s website, may help institutions better understand the FDIC’s consumer compliance examination process. See https://www.fdic.gov/news/inactive-financial-institution-letters/2015/fil15059.html |