FDIC Extends Consumer Compliance and CRA Examination Cycles
"The FDIC’s Consumer Compliance Examination Manual has been revised to reflect an updated examination frequency schedule whereby consumer compliance examinations and Community Reinvestment Act evaluations will occur less frequently for most institutions."
FDIC Financial Institution Letter
"The FDIC’s Consumer Compliance Examination Manual has been revised to reflect an updated examination frequency schedule whereby consumer compliance examinations and Community Reinvestment Act evaluations will occur less frequently for most institutions."
FDIC Financial Institution Letter
The FDIC revised its Consumer Compliance Examination Manual to lengthen examination and Community Reinvestment Act evaluation cycles for most supervised institutions.
Under the updated schedule, institutions will now generally be examined every "66–78 months, 54–66 months, or 24–36 months, depending on asset size" and prior ratings.
The FDIC clarified that targeted exams or visitations will not reset an institution’s examination cycle and that adversely rated institutions will continue to undergo more frequent supervisory reviews. The FDIC stated that the changes are intended to focus supervisory resources on higher-risk institutions while reducing the regulatory burden on well-managed banks.