For Compliance Sake
Andrews, William, Independent Banker
It wasn't long ago that compliance was considered a small part of an FDIC exam. But that was before FIRREA, FDICIA and a host of other banking regulations. Now the FDIC has a whole battery of examiners Just to look at compliance issues. A simple exam process that once took at most a few days can now take weeks.
"Community banks weren't doing it [compliance audits] themselves, so the regulators stepped in and said we'll do it for you," says Mary Ann Boda, compliance officer for the $150 million-asset Baraboo National Bank, Baraboo, Wisconsin. "We thought we could do it [compliance] when we had time, but no one ever seemed to be able to fit it in."
Community groups have also …
The rest of this article is only available to active members of Questia
Sign up now for a free, 1-day trial and receive full access to:
- Questia's entire collection
- Automatic bibliography creation
- More helpful research tools like notes, citations, and highlights
- Ad-free environment
Already a member? Log in now.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Article title: For Compliance Sake.
Contributors: Andrews, William - Author.
Magazine title: Independent Banker.
Volume: 45.
Issue: 1
Publication date: January 1995.
Page number: 14+.
© 2002 Independent Banker.
Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
One moment ...
- Georgia
- Arial
- Times New Roman
- Verdana
- Courier/monospaced
Reset