High-level summaries of “pertinent supervisory issues” about consumer protection will be the content of a new publication launched Thursday by the Federal Reserve aimed at bankers and others interested in the issue, the agency said.
In a release, the Federal Reserve said its new Consumer Compliance Supervision Bulletin is “intended to enhance transparency regarding the Federal Reserve’s consumer compliance supervisory program, and highlight violations that have been identified.”
The Fed said the publication will also provide “steps for institutions to consider when managing consumer compliance risks.
The first issue of the bulletin, the agency said, focuses on the illegal discrimination practice known as “redlining,” as well as discriminatory loan pricing and underwriting. Other topics addressed in the publication include discussions of unfair or deceptive acts or practices involving overdrafts, loan officer misrepresentations, and products and services marketed to students.
Recent regulatory and policy developments are also highlighted, the Fed said.