Regulatory Alerts2013-11-18
Added · Updated
CA 13-20: Consumer Compliance and Community Reinvestment Act (CRA) Examination Frequency Policy
The Board of Governors of the Federal Reserve System issued this letter to update the mandated frequency of consumer compliance and Community Reinvestment Act examinations for all institutions it supervises. The revised policy, effective January 1, 2014, aligns examination resources with an institution's asset size and the effectiveness of its consumer compliance risk management program. Reserve Banks are instructed to review schedules and submit examination mandate waivers to the Board Division of Consumer & Community Affairs as needed during the transition.
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