WASHINGTON–A report examining 2019 and 2020 by the FDIC’s Office of the Ombudsman found the agency has responded to banking industry complaints over issues ranging from fears of retaliation by FDIC officials to concerns over examinations and appeals.
The FDIC Office of the Ombudsman Report on 2019 & 2020 Activities also offers information on how the FDIC has provided assistance to the banking industry.
In announcing the new report, the Office of the Ombudsman said it sought to:
- Solicit input on the existing appeals process
- Facilitate discussions and informally resolved disagreements over bank examination findings
- Assume responsibility for the “Post-Examination Survey” process
- Serve as a resource to financial institutions and the general public affected by the coronavirus crisis.
Increase in Disputes
Much like the CFPB’s recent report of an increase in complaints, the report states the number of “public inquiries” increased to 2,544 from 1,618 in 2019, many of which it said were referred to other federal financial regulators, including the Office of the Comptroller of the Currency, CFPB and NCUA.
But the report did find that the number of disputes between banks and customers increased to 414 in 2020, up from 320 one year earlier.
“Whistleblower” inquiries (allegations against FDIC-supervised financial institutions)were also up year-to-year, with 106 received in 2020, compared to 70 the year before.