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The FDIC recently released its Consumer Compliance Supervisory Highlights that provides an overview of consumer compliance issues identified through the FDIC’s supervision of state non-member banks and thrifts in 2020.
The FDIC conducted all consumer compliance examinations and industry meetings virtually since mid-March of 2020. The FDIC also conducted targeted CARES Act assessments for institutions with significant mortgage servicing portfolios to provide those institutions with an opportunity to share their issues related to the pandemic and the CARES Act, and to determine the extent to which they had implemented relevant CARES Act provisions. The assessments found that those institutions had compliance management systems in place to identify, mitigate, and respond to consumer compliance risks in their operations, and associated products and services.