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Financial Services Law Insights and Observations

FDIC issues 2021 Consumer Compliance Supervisory Highlights

Federal Issues FDIC Bank Supervision Examination Compliance Bank Regulatory

Federal Issues

On March 31, the FDIC released the spring 2021 edition of the Consumer Compliance Supervisory Highlights, intended to provide information and observations related to the FDIC’s consumer compliance supervision of state non-member banks and thrifts in 2020. Topics include:

  • A summary of the FDIC’s supervisory approach in response to the Covid-19 pandemic, including efforts made by banks to meet the needs of consumers and communities;
  • An overview of the most frequently cited violations (approximately 74 percent of total violations involved TILA, Truth in Savings Act, Flood Disaster Protection Act, EFTA, and RESPA), as well as other consumer compliance examination observations related to RESPA, TRID, and fair lending;
  • Information on regulatory developments, such as Community Reinvestment Act and flood insurance rulemaking and small-dollar loan programs;
  • A summary of consumer compliance resources available to financial institutions; and
  • Examples of practices that may be useful to institutions in mitigating risks.
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