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The FDIC Ombudsman: Is it Safe?
The Ombudsman's office gets lots of calls - but most of them should have been directed to the U.S. Government Telephone Operator. They have nothing to do with FDIC. Many of the banks that could make use of the Ombudsman don't because the banks are concerned that the information will come back to haunt - especially if they are complaining about problems with an examiner. The concern is unnecessary. The FDIC Ombudsman's office treats all information as confidential. In fact, they operate as though under attorney client privilege. To make sure that information doesn't end up in the wrong hands, they shred the records when they are finished with a case.
Copyright © 1998 Compliance Action. Originally appeared in Compliance Action, Vol. 3, No. 13 & 14, 10/98
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