The Draft Report implies that talks between staff and FDIC Board users from the programs that are RAL uncommon and improper.
Nevertheless, as discussed below, such conversations are anticipated and appropriate. No person in the FDIC Board directed FDIC staff to purchase any banking institutions to discontinue offering RAL services and products or to simply simply take any action that has been maybe maybe maybe not supported by supervisory findings.
The FDIC bylaws established the organizational framework of this FDIC in addition to foundation for communications and do exercises of authority of both the FDIC Board as well as its Officers. The FDIC Board has general duty for handling the FDIC, while day-to-day obligation for handling the FDIC and supervising its Officers is delegated into the FDIC Chairman. Continue reading “Communications Between FDIC Board Customers and Staff Had Been Appropriate”