InfoBytes Blog
FDIC Issues Winter 2015 Supervisory Insights
On February 1, the FDIC published its Winter 2015 issue of Supervisory Insights to promote sound principles and practices for bank supervision. The most recent issue of Supervisory Insights focuses on the following four areas: (i) cybersecurity, highlighting the importance of maintaining a cybersecurity awareness training program and ensuring that a bank’s “executive management and Board of Directors (board) play a key role in overseeing programs to protect data and technology assets and establishing a corporate culture consistent with the bank’s risk tolerance”; (ii) marketplace lending, emphasizing associated risks, such as third-party arrangements, and the significance of examining the overall marketplace lending model to ensure that it is aligned with the bank’s business strategy; (iii) an assessment of the lending landscape for banks, describing current lending conditions and the risks reported in the FDIC’s Credit and Consumer Products/Services Survey; and (iv) an overview of recently released regulations and supervisory guidance, including the revised interagency examination procedures for the new TRID rule.
The FDIC’s marketplace lending guidance comes after the California Department of Business Oversight’s December inquiry into the industry, requesting that 14 firms provide information on their business models and online platforms.