How Examiners Spend Their Time
Examiners are spending more time on CRA and Fair Lending than they have in previous years. According to Joan Buchanan, Assistant Vice President of the Federal Reserve Bank of Atlanta, examiners spent 45% of their examination time on Regulation B and CRA in 1997. Examiners reported spending 15% of their time on Regulation B and 30% of their time on CRA.
Time spend on these two procedures increased to 50% in 1998. During 1998, examiners spend 18% of their time on Regulation B examinations and 37% of their time on CRA examinations. As examiners begin to use the new fair lending examination procedures, she doesn't expect to see this percentage drop.
Copyright © 1999 Compliance Action. Originally appeared in Compliance Action, Vol. 4, No. 2, 2/99
First published on 02/01/1999