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FDIC Updates IT Examination Procedures
Starting immediately, all FDIC-examined institutions will be subjected to new IT examination procedures, the first major overhaul since December 2007. The new format is dubbed the InTREx program (Information Technology Risk Examination), and is designed to be a bit simpler in the pre-examination phase. In fact, the InTREx has only 26 questions vs. 59 for the 12/07…
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FDIC Expands Criteria for 18 Month Exam Cycle
The FDIC released FIL-17-2016 today, which will increase the examination cycle for community banks meeting certain criteria from 12 months to 18 months, thereby potentially decreasing one of the most intrusive events in the bankers life. The criteria is as follows: Must be less than $1 B in assets Must have a CAMELS composite rating…
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Ask the Guru: Vendor vs. Service Provider
Hey GuruI recently had an FDIC examiner tell me that we needed to make a better distinction between a vendor and a service provider. His point seemed to be that by lumping them together in our vendor management program we were “over-analyzing” them. He suggested that we should be focused instead only on those few…
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FDIC Institutions still getting UIGEA (Reg GG) findings – UPDATE
Update 1 – 12/5/2011 to add examination procedures*. Update 2 – 2/13/2012 to emphasize policy requirements. Update 3 – 10/8/2012 to add specific courses of action Read the rest of the article
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5 “random” facts
Fact 1 – According to the U.S. Bureau of Labor Statistics, the increasing complexity of financial regulations will spur employment growth of financial examiners. In fact it is expected to experience the third largest growth of all career paths through 2018: Fact 2 – According to Rep. Shelly Moore Capito (R-W.Va.), author of H.R. 3461,…
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CFPB Examinations Are Coming – UPDATE 2
Coming soon to your financial institution: Dear Board of Directors: Pursuant to the authority of the Dodd-Frank Wall Street Reform… Read the rest of the article
