The federal regulatory agency charged with insuring bank deposits has shifted its post-examination process for federally insured institutions to its ombudsman office, according to a Financial Institution Letter (FIL) issued Thursday.
The survey was previously administered by the Division of Risk Management Supervision and the Division of Depositor and Consumer Protection.
In Thursday’s letter (FIL 50-2019), the Federal Deposit Insurance Corp. (FDIC) noted that the ombudsman office is independent of the supervisory process, reports directly to the FDIC chairman’s office and “is a confidential resource for banks.” Moving the post-exam survey process to the ombudsman office “further ensures confidentiality of Survey responses and is designed to promote additional candid feedback and to improve response rates,” it states, adding this also is part of the FDIC’s efforts “to enhance transparency, efficiency, and accountability.”
The FDIC Office of Ombudsman will take over responsibility for soliciting post-exam aurvey responses effective Oct. 1, the letter states. This office will also send notice that the survey will accompany the report of examination; provide a reminder to encourage participation in the survey; and serve as the contact point for banks regarding the survey and follow-up requests.
A post-exam survey is conducted for the safety-and-soundness examination and the Community Reinvestment Act (CRA) examination. The agency included links to the post-exam survey forms in its FIL.