Pre-examination planning and communications of exam findings are among the sections that have been updated in the consumer compliance examination manual (CEM) issued by the federal bank deposit insurance agency, the agency said Wednesday.
According to the Federal Deposit Insurance Corp. (FDIC), chapters updated in the CEM include:
- Overview of Compliance Examinations (II-1.1), to clarify the examination review period and includes pedestrian updates.
- Pre-Examination Planning (PEP) (II-4.1), to include references for the use of off-site examination tools and other remote technologies to facilitate efficient examinations.
- Review and Analysis (II-5.1), to clarify the examination review period and added guidance in determining which examination activities should be completed off-site versus on-site.
- Communicating Findings (II-6.1), to describe the type and scope of supervisory activities.
- Investigations and Visitations (II-8.1), to provide technical reasons, and to provide the steps in preparing the Report of Visitation.
- Pre-Examination Information Packet (III-1.1), to add language that details use of the Enterprise File Exchange.
- Bank of Anytown (III-2.1), to reflect format changes associated with the Revised Report of Examination.
The FDIC said the CEM provides supervisory information regarding consumer compliance examinations, Community Reinvestment Act (CRA) performance evaluations, and other supervisory activities. It also includes supervisory policies and examination procedures for evaluating financial institutions’ compliance with federal consumer protection laws and regulations.