The statement presents the results of the final phase of the Examination Modernization Project in which FFIEC members addressed the feedback provided by supervised entities regarding examination requests and authentication requirements for FFIEC members’ supervision systems.
The project was initiated in response to a review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act .
The statement presents the results of this final phase, in which the FFIEC members
Developed and committed to implementing principles for examination information requests, and
Developed a common authentication mechanism for external access to the FFIEC members’ respective supervision systems.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
