Consumer Compliance Supervisory Highlights

Earlier this month, the FDIC released the inaugural issue of Consumer Compliance Supervisory Highlights. The Highlights are intended to provide the public and supervised institutions with information and observations related to the FDIC’s supervisory activities. It also includes a high-level overview of identified consumer compliance issues. This is a great read for anyone in a compliance-related position, not just those … Read More

FFIEC Proposed changes to the Consumer Compliance Rating System

The Federal Financial Institutions Examination Council (FFIEC) agencies issued a proposed rule updating the Uniform Consumer Compliance Rating System.  This System has been in place since 1980.   No action is required on the part of the credit union, as this is currently a proposed amendment, and if enacted, would not institute new supervisory expectations. The FFIEC will accept comments … Read More