OCC BULLETIN 2016-19
Subject: Consumer Compliance
Date: June 9, 2016
To: Chief Executive Officers and Compliance Officers of All National Banks and Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties
Description: Notice and Request for Comment on Proposed Uniform Interagency Consumer Compliance Rating System
The Federal Financial Institutions Examination Council (FFIEC) is seeking public comment on its proposal to revise the existing Uniform Interagency Consumer Compliance Rating System (CC Rating System) to reflect regulatory, supervisory, technological, and market changes since the system was established.
The CC Rating System is a supervisory policy for evaluating financial institutions’ adherence to consumer compliance requirements. The proposal to revise the system reflects consumer compliance supervisory approaches already being used.
In accordance with existing regulatory expectations and FFIEC guidance, national banks and federal savings associations should take appropriate risk mitigation steps, including
The current CC Rating System, adopted in 1980, is a supervisory policy for evaluating financial institutions’1 adherence to consumer compliance requirements. The CC Rating System provides a framework for evaluating institutions based on assessment factors to assign a consumer compliance rating to each institution.
For further information, please contact your supervisory office or the OCC’s Compliance Policy Division at (202) 649 5470.
Donna M. Murphy