The Federal Deposit Insurance Corporation (FDIC) recently issued its latest version of Consumer Compliance Supervisory Highlights.  The FDIC is responsible for supervising roughly 3,200 state-chartered banks and thrifts that are not members of the Federal Reserve System. The publication focuses on the five most frequently cited violations during 2021.  The top five violations identified by the FDIC are:

  1. Delivery timing of the Loan Estimate under the Truth-in-Lending Act section 1026.19(e).
  2. Adequate flood coverage for the duration of a loan under Section 339.3(a) of the Flood Disaster Protection Act.
  3. Investigations of allegations of electronic fund transfer errors.
  4. Disclosures for assessing premiums or fees for forced-place hazard insurance.
  5. Timing and content for deposit account disclosures.