Updates to reflect 2020 and 2021 updates to Fair Debt Collection Practices (FCRA) rules, and guidelines on how to determine whether an examination should be conducted offsite vs. onsite, are the latest updates to the federal bank deposit insurer’s Consumer Compliance Examination Manual (CEM).
The Federal Deposit Insurance Corp. (FDIC) emailed subscribers Thursday on the updates.
The manual, the FDIC noted, includes supervisory policies and examination procedures for evaluating financial institutions’ compliance with federal consumer protection laws and regulations. It can also be useful for financial institutions seeking more information on the agency’s exam process.