FDIC Publication Focuses on Tools Available to Help Community Banks Manage Regulatory Responsibilities — 2014-07-29

"Alternatives to Consultants: Meeting Regulatory Expectations with Internal Resources," which appears in the Summer 2014 issue of Supervisory Insights released today, highlights tools and information available from the FDIC to assist community banks in managing their regulatory responsibilities. The article describes how making use of available technical assistance and maintaining a dialogue with FDIC staff to clarify regulatory expectations may help institutions economize on the use of outside consulting services. The article also describes ways that institutions may be able to conduct required independent reviews of key bank functions using internal resources. "As the primary federal regulator for the vast majority of community banks, the FDIC understands the resource challenges these institutions may face," stated Doreen R. Eberley, Director, Division of Risk Management Supervision.