Are There Differences Among the OCC, FDIC & FED?

Jan 21, 2015

Abrigo consultant, Garrett Morris, discusses the different regulatory bodies in the market and perceived differences among them. In one example, he cites that the OCC review process is generally perceived as more stringent than others. However, he concludes that regardless of regulatory body, institutions should follow guidance and make certain that their process is exact, documented, transparent and concrete.


Video Transcript:

A lot of institutions are curious about the differences about the different regulatory bodies that are out there in the market and differences they might see in terms of guidance and what those regulatory bodies are telling them. For example, institutions regulated by the OCC as that might differ from FDIC institutions and other regulatory bodies, as well. It’s an interesting topic of conversation. A lot of out there might feel and might experience that OCC regulated institutions are a little more stringent in terms of their review process, based on institutions’ risk management practices and policies. However, if we really take a step back and think about it, I would say really we should all be doing the same thing in the sense that the regulatory agencies that are out there that are identifying the guidance we should follow is going to be constant really with every institution in today’s marketplace. It doesn’t so much matter who you’re regulated by, again the guidance that’s released by those regulatory agencies is going to be the same for everyone. Based on that, I think goals for everyone for 2015 really should be making certain their process is exact, documented, transparent and concrete. So regardless of who you are regulated by, you are having a good regulatory experience, and your institution is performing well in terms of your risk management practices.