FFIEC Annual Report 1999

Community Reinvestment Act
Subcommittee
The Community Reinvestment Act
(CRA) Subcommittee provides technical,
programmatic, and policy
support to the task force on issues
associated with the agencies’ implementation
of the CRA. During 1999,
the CRA Subcommittee focused on
the interagency effort to foster consistent
implementation of the CRA
and to develop standardized tables
for use in CRA public evaluations.
In 2000, the subcommittee will continue
its efforts to ensure more consistent
application of CRA policies
among the agencies.
Electronic Banking
Subcommittee
The Electronic Banking Subcommittee
helps develop uniform policies,
principles, and standards associated
with member agencies’ implementation
of the consumer protection and
fair lending laws and regulations as
they relate to emerging electronic
banking technology. The subcommittee
serves as an ongoing interagency
working group to conduct
research and analysis, produce
interagency reports and recommendations,
and educate the industry
and general public on developments
in electronic banking technology
and regulatory matters. In 2000,
the subcommittee will continue its
efforts to reduce costs and increase
efficiencies in electronic applications
of technology relating to consumer
compliance.
Examination Procedures
Subcommittee
The Examination Procedures
Subcommittee is responsible for
maintaining updated interagency
examination procedures for the
compliance and consumer protection
laws that the agencies enforce.
In 1999, the subcommittee revised
Truth in Lending Act Questions
and Answers and the Fair Credit
Reporting Act procedures and
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drafted new Homeowner’s Protection
Act examination procedures.
In 2000, the subcommittee plans to
revise consumer leasing examination
procedures and consider
emerging issues.
Home Mortgage Disclosure Act
Subcommittee
The Home Mortgage Disclosure Act
(HMDA) Subcommittee supervises
the collection and dissemination of
HMDA data reported to the agencies
and aggregated by the Council.
In 1999, the subcommittee focused
on researching methods to increase
efficiency in HMDA processing and
responding to consumer and agency
recommendations.
Fair Lending Subcommittee
The Fair Lending Subcommittee
provides technical, programmatic,
and policy support to the task force
on issues associated with fair housing
and fair lending. In 1999, the
subcommittee tracked the implementation
of the interagency fair
lending examination procedures
and developed for discussion drafts
of an interagency policy on fair
lending enforcement.
In 2000, the subcommittee plans to
report on the implementation of fair
lending examination procedures,
submit a proposed enforcement
policy for approval by the agencies,
and promote consistency in the use
of statistical modeling by those
agencies that use modeling in their
fair lending examinations.
Task Force on Examiner
Education
The mission of the Federal Financial
Institutions Examination Council
is to promote consistency in the
examination of financial institutions.
The Council established the
Task Force on Examiner Education
to support one of its three original
statutory functions—examiner
training. Accordingly, the mission of
this task force is to
promote training efficiency by
encouraging consistency of
examiner education through
joint sponsorship of interagency
training
develop, maintain, and deliver
timely, state-of-the art interagency
training
serve as a clearinghouse of training
opportunities offered by the
member agencies
provide support to the initiatives
of the Council and its task forces.
During 1999, the Council conducted
training for the five member agencies,
state financial institution regulatory
agencies, other federal agencies,
and several attendees from
foreign central banks.
The task force, composed of officials
from each of the member agencies,
provides oversight and guidance for
curricula and programs. Interagency
course-development committees
provide specific guidance for each
program and ensure that the programs,
aimed at examiner training
needs, are kept current and relevant.
The program calendar is developed
in the fall in response to needs surveys
conducted in each of the participating
agencies. For 1999, attendance
by regulatory staff totaled
3,294. The table on page 13 provides
details of attendance by course and
by agency.
1999 Initiatives
The major initiative was development
of the Council’s first webconnected
CD-ROM and the associated
infrastructure. This product
will facilitate the quick-response
training of the nation’s federal
financial institution examiners.
The topic of the first CD-ROM was
subprime lending. In the future,
when the Council issues policy
statements or examination guidance,
the examiners of all five member
agencies can, if the Council chooses,