FDIC reports effective consumer compliance

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.