A recent article by the Atlanta Fed’s ‘Economy Matters’ explores the work Ron Garner and Tony Curtis have been doing to oversee commercial banks for consumer compliance, shedding light on the Fed’s approach to supervision.
The pair has been reviewing balance sheets and evaluating compliance risks to check the banks are complying with fair lending laws and the Community Reinvestment Act. They also have been assigning ratings and imposing penalties for violations, the feature says.
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