FFIEC Annual Report 1999

ACTIVITIES OF THE INTERAGENCY STAFF GROUPS
Section 1006 of Public Law 95–630
sets forth the functions of the Council.
Briefly summarized, these functions
are the following:
establish uniform principles, standards,
and report forms for the
examination of financial institutions
and make recommendations
for uniformity in other supervisory
matters
develop uniform reporting systems
for federally supervised
institutions, their holding companies,
and subsidiaries of those
institutions and holding
companies
conduct schools for examiners
employed by the federal supervisory
agencies and make those
schools available to employees
of state supervisory agencies
under conditions specified by
the Council.
To effectively administer projects
in all those functional areas, the
Council established six interagency
staff task forces, each of which
includes one senior official from
each agency:
Consumer Compliance
Examiner Education
Information Sharing
Reports
Supervision
Surveillance Systems.
The Council also established the
Legal Advisory Group, composed
of a senior legal officer from each
agency. The task forces and the
Legal Advisory Group provide
research and analytical papers and
proposals on the issues that the
Council addresses.
Task Force on Consumer
Compliance
The Task Force on Consumer Compliance
promotes policy coordination
and uniform enforcement of
consumer laws by the five agencies
represented on the Council. It consists
of senior personnel with knowledge
of consumer compliance matters.
The task force identifies and
studies problems concerning consumer
compliance and fosters uniformity
in the policies and procedures
used by member agencies.
The task force is responsible for
those laws and regulations that
protect consumers who conduct
business with insured depository
institutions. The task force also
addresses other legislation, regulations,
or policies at the state and
federal levels that could affect agencies’
consumer compliance responsibilities.
During 1999, the task force
had six standing subcommittees:
Task Force on Consumer Compliance meeting.
automation, Community Reinvestment
Act, electronic banking, examination
procedures, Home Mortgage
Disclosure Act, and fair lending.
Also, one issue-specific working
groupworked on implementing an
interagency consumer-contacts
database.
Automation Subcommittee
The Automation Subcommittee provides
the task force with technical
support by undertaking projects
that require coordination with other
automation groups and by developing
applications for FFIEC benefit.
In 1999, the subcommittee enhanced
the FFIEC CRA Ratings database to
synchronize agency updates to ensure
reporting consistency. In 2000,
the subcommittee plans to continue
to enhance the FFIEC CRA ratings
database in response to consumer
and agency recommendations.
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