Regulatory Alerts2014-02-24
Enhancing Transparency in the Federal Reserve’s Applications Process
The Board of Governors of the Federal Reserve System issued this guidance to improve transparency in the applications process for all supervised financial institutions. The Federal Reserve will publish semi-annual reports detailing application volumes, processing times, and primary reasons for withdrawals to provide better insight into supervisory concerns. The document outlines common substantive issues that lead to application withdrawals, including less-than-satisfactory ratings, safety and soundness deficiencies, consumer compliance failures, and managerial inadequacies.
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