FDIC Ombudsman Office Shines
Light on Compliance Issues
On Sept. 23, 2019, the Federal Deposit Insurance Corporation’s (FDIC)
Office of the Ombudsman, an independent source of alternative dispute
resolution, published its 2018 Annual Report — the first public report
issued in almost ten years. Whether your institution is a bank or a credit
union, you should take note of the regulatory compliance findings and
information in the report, as it may be useful for your compliance officers
and internal auditors.
Regulatory Issues Activity
In 2018, the Ombudsman Office
conducted outreach visits to
472 banks, trade associations
and state banking authorities.
The main topic of interest was
regulatory issues – representing
10
more than half of all topics of
interest during their visits. The
following is a more detailed
breakdown of these areas of
regulatory compliance concern.