Fair lending and flood disaster sections have been updated in the federal insurer of bank deposits’ compliance examination manual (CEM), the agency said Tuesday.
The Federal Deposit Insurance Corp. (FDIC) said the updates were made to the manual’s Fair Lending Scope and Conclusions Memorandum and the Flood Disaster Protection sections (at secs. IV-3.1 and V-6.1, respectively).
Under the fair lending portion, sections and questions of memorandum were revised to reflect changes to pre-examination interview questions and information requests made during the examination planning process.
Under the flood disaster protection provision, the FDIC said, updates were made to incorporate the private flood insurance final rule’s provisions pertaining to mandatory and discretionary acceptance of private flood insurance by financial institutions; and the qualification process and acceptance of mutual aid society plans in satisfaction of the flood insurance purchase requirement. Minor technical changes were also made.
The agency describes the CEM as providing supervisory information to FDIC exam staff that conduct consumer compliance examinations, Community Reinvestment Act (CRA) performance evaluations, and other supervisory activities. The FDIC noted that financial institutions can use the CEM to obtain more information about the FDIC’s examination process.