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2019 BRASS Preconference: Guardians of the (Financial) Galaxy: Retail Banking

Federal Financial Institutions Examination Council

FFIEC LogoMission

Empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions and make recommendations to promote uniformity in the supervision of financial institutions.

Role

  • Develops uniform reporting systems for federally supervised financial institutions, their holding companies, and the non-financial institution subsidiaries of those institutions and holding companies.
  • Conducts schools for examiners employed by the five federal member agencies represented on the Council and makes those schools available to employees of state agencies that supervise financial institutions.

Resources

Federal Deposit Insurance Corporation (FDIC)

FDIC Logo

Mission and Role

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by:

  • Insuring deposits.
  • Examining and supervising financial institutions for safety and soundness and consumer protection.
  • Making large and complex financial institutions resolvable. and
  • Managing receiverships.

Resources

Federal Reserve

Federal Reserve Logo

Mission

The mission of the Federal Reserve System is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems so as to promote optimal macroeconomic performance.

Role

The Federal Reserve has three primary functions: Monetary PolicyBanking SupervisionFinancial Services

The Federal Reserve works in conjunction with other federal and state authorities to ensure that financial institutions safely manage their operations and provide fair and equitable services to consumers. Bank examiners also gather information on trends in the financial industry, which helps the Federal Reserve System meet its other responsibilities, including determining monetary policy.

 

Resources

Office of the Comptroller of the Currency (OCC)

OCC logo

Mission

To ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.

Role

The Office of the Comptroller of the Currency charters and regulates National banks and federal savings associations.

Check the list of National Bank Operating Subsidiaries on OCC's website HelpWithMyBank.gov.

To search by specific bank name, the Federal Financial Institutions Examinations Council (FFIEC) offers a financial institution search.

National Credit Union Administration (NCUA)

Mission

Provide, through regulation and supervision, a safe and sound credit union system, which promotes confidence in the national system of cooperative credit.

Role

The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

 

The material in this guide was compiled by BRASS members and reflects information that was accurate at the time it was collected.

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