FDIC alters exam approach
Northwestern Financial Review, Jul 15-Jul 31, 2003
On June 30, the Federal Deposit Insurance Corp. began using a risk-based approach for its compliance examinations. The agency already uses a similar risk-based approach for safety and soundness, fair lending and Community Reinvestment Act exams. Under the new approach, the FDIC will place emphasis on an institution's total compliance program covering such areas as management and board oversight, procedures and policies, monitoring, training and auditing.
The new procedures are sensitive to size considerations.
Copyright NFR Communications Inc Jul 15-Jul 31, 2003
Provided by ProQuest Information and Learning Company. All rights Reserved
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