The FDIC conducted roughly 1,000 consumer compliance examinations last year and found supervised institutions demonstrated effective management of their consumer compliance responsibilities, the agency said.
Details: In its latest Consumer Compliance Supervisory Highlights, the FDIC said 99% of all FDIC-supervised institutions were rated satisfactory or better for consumer compliance and the Community Reinvestment Act as of Dec. 31.
Most Frequent Violations: The FDIC said its most frequently cited violations involved the Truth in Lending Act, Section 5 of the Federal Trade Commission Act, the Flood Disaster Protection Act, the Electronic Fund Transfers Act, and the Truth in Savings Act.
