The FDIC conducted roughly 1,000 consumer compliance examinations last year and found supervised institutions demonstrated effective management of their consumer compliance responsibilities, the agency said.
FDIC reports effective consumer compliance
April 06, 2023 / By ICBA
The FDIC conducted roughly 1,000 consumer compliance examinations last year and found supervised institutions demonstrated effective management of their consumer compliance responsibilities, the agency said.
The FDIC conducted roughly 1,000 consumer compliance examinations last year and found supervised institutions demonstrated effective management of their consumer compliance responsibilities, the agency said.
Details: In its latest Consumer Compliance Supervisory Highlights, the FDIC said 99% of all FDIC-supervised institutions were rated satisfactory or better for consumer compliance and the Community Reinvestment Act as of Dec. 31.
Most Frequent Violations: The FDIC said its most frequently cited violations involved the Truth in Lending Act, Section 5 of the Federal Trade Commission Act, the Flood Disaster Protection Act, the Electronic Fund Transfers Act, and the Truth in Savings Act.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
