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News Now

Washington
Inside Washington (09/17/2012)
  • WASHINGTON (9/18/12)--Bankers stressed the importance of communication between themselves and examiners during roundtables hosted by the Federal Deposit Insurance Corp., Martin Gruenberg, acting chairman of the agency, said Friday at American Banker's Regulatory Symposium. "It is no surprise that we heard from community bankers about supervision and regulation," Gruenberg said. "Community bankers said that communication between examiners and the banks is crucial. This is particularly true in the pre-exam planning process. Bankers expect that the materials they provide to facilitate this advance planning will enable examiners to be as efficient as possible once they are on site. We have also heard that the examiners' communication with management at the beginning of the exam should clearly lay out the focus and goals of the exam." Communication issues with examiners also are challenging credit unions. In an internal review requested by the U.S. Congress, the National Credit Union Administration's Office of the Inspector General found inconsistencies in how small credit union examination policies and procedures are implemented (News Now Sept. 12) …


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