Consumer compliance manual updated to reflect changes related to fair lending, funds availability

Updates focusing on the scope of fair lending and technical changes to regulations implementing expedited funds availability were published Tuesday by the federal insurer of bank deposits for its consumer compliance examination manual (CEM).

The Federal Deposit Insurance Corp. (FDIC) said the January updates to its manual – which provides supervisory information regarding consumer compliance examinations, Community Reinvestment Act (CRA) performance evaluations, and other supervisory activities – look at the agency’s fair lending scope and conclusions memo (chapter IV-3.1 of the CEM) and the Expedited Funds Availability Act (chapter VI-1.1).

According to the FDIC, the manual is updated on an ongoing basis as compliance examination procedures and supervisory expectations are revised or updated.

The agency said the fair lending chapter was updated with technical and formatting changes related to the FDIC’s shift from SOURCE to FOCUS (which provides an option to select the focal point[s] chosen for analysis, according to the FDIC).

The funds availability chapter, the FDIC said, was updated with technical changes related to regulatory dollar-amount thresholds.

Consumer Compliance Examination Manual