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OCC Bulletin 2016-16
May 18, 2016
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Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies) are issuing the “Interagency Guidance Regarding Deposit Reconciliation Practices.” This interagency guidance ensures that financial institutions are aware of the supervisory expectations regarding deposit reconciliation practices for customer accounts.
This interagency guidance applies to all national banks and federal savings associations.
The agencies expect national banks and federal savings associations to
Please contact Kimberly G. Hebb, Director for Compliance Policy, at (202) 649-5470; or Kenneth Lennon, Assistant Director for Community and Consumer Law, at (202) 649-6350.
Grovetta N. Gardineer
Senior Deputy Comptroller for Compliance and Community Affairs