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Cover of Bank Holding Company Supervision Manual

Consumer Compliance Handbook
June 2014 Update



The June 2014 update to the handbook includes the newly adopted Community Bank Risk-Focused Consumer Compliance Supervision Program. In addition, one section, Fair Lending Regulations and Statutes: Alternative Examinations Approach for Low-Risk Banks, is removed from the handbook.

Community Bank Risk-Focused Consumer Compliance Supervision Program

Effective January 1, 2014, the Federal Reserve has adopted the Community Bank Risk-Focused Consumer Compliance Supervision Program for state member banks with consolidated assets of $10 billion or less and their subsidiaries (community banking organizations). Under the updated program, consumer compliance examiners will base the examination intensity more explicitly on the individual financial institution’s risk profile, including its consumer compliance culture and how effectively it identifies and manages consumer compliance risk. An executive summary that provides an overview of the program was published in the November 2013 update of the handbook; this update includes the full program. Conforming edits have been made to the “Contents” section of the Consumer Compliance Handbook.

Fair Lending Regulations and Statutes: Alternative Examinations Approach for Low-Risk Banks

The Community Bank Risk-Focused Consumer Compliance Program has superseded the Alternative Examinations Approach for Low-Risk Banks. Accordingly, the latter has been removed from the handbook.

Filing Instructions

To maintain an updated print version of the handbook, use the following instructions:

RemoveInsert
Behind the title page:
Contents • pp. v-vi (dated 11/13)Contents • pp. v-iv (dated 6/14)
 

 
Behind the “Risk-Focused Superv. Framework” tab, behind the Executive Summary text:
Federal Reserve Community Bank Risk-Focused Consumer Compliance Supervision
Program • pp. 1–70 (dated 6/14)
Behind the “Federal Fair Lending Regulations and Statutes” tab:
Fair Lending Regulations and Statutes:  
Alternative Examinations Approach for Low-Risk Banks • p. 1 (dated 1/06) 

Consumer Compliance Handbook

Previous Update: November 2013