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FDIC Consumer Compliance Examination Manual Update April 15, 2021

April 16, 2021 / Source: FDIC

The CEM provides supervisory information regarding consumer compliance examinations, Community Reinvestment Act performance evaluations, and other supervisory activities.  It includes supervisory policies and examination procedures for evaluating financial institutions’ compliance with federal consumer protection laws and regulations.  The CEM is designed to promote consistency and efficiency in the examination process and compliance with applicable laws and regulations.  Financial institutions can use the CEM to obtain more information about the FDIC’s examination process.

April 2021 Updates

The FDIC updated several sections of the CEM: 

  • Pre-Examination Planning (II-4.1): This chapter was updated to reflect revised examination planning procedures and to conform to the revised examination risk scoping document, known as the Assessment of Risk of Consumer Harm (ARCH).
  • Review and Analysis (II-5.1): This chapter was updated to conform to the revised ARCH and to reflect current applicable regulations.
  • Documenting the Examination (II-7.1): This chapter was updated to conform to the revised ARCH and to remove an outdated workpaper requirement.
  • Examination and Visitation Frequency (II-12.1): This chapter was updated to clarify that the FDIC will perform introductory meetings with de novos and charter conversions that are newly under FDIC supervision.  
  • SOURCE Violation Codes (II-14.1): SOURCE violation codes were updated for the Fair Housing Act (2 codes revised) and the Telephone Consumer Protection Act (2 codes added; 3 duplicative codes removed; 4 codes revised). 
  • Pre-Examination Information Packet (III-1.1):  The Pre-Examination Information Packet was updated to reflect the content of the letter sent to institutions about a scheduled compliance or compliance and CRA examination. 
  • Gramm-Leach-Bliley Act (VIII-1.1):  This chapter was updated to incorporate the current Examination Checklist.

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