Five chapters were revised – and a template removed –from the federal bank deposit insurance agency’s consumer compliance exam manual, the agency said Friday, in a response to a new rule on unsafe, unsound practices.
On Thursday, the Federal Deposit Insurance Corp. (FDIC) Board voted to issue a rule redefining the term “unsafe or unsound practice” for use in enforcement actions. The agency said the action was taken to ensure examiners prioritize concerns related to material financial risks and not policies or procedures.
The FDIC said the chapters updated were:
- Documenting the Examination (II-7)
- Investigations and Visitations (II-8)
- Appeals (II-11)
- Home Mortgage Disclosure Act (V-9)
- Small-Dollar Lending (V-17)
The FDIC also said the “Bank of Anytown (III-2) Examination Template” was removed from the website
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