Does anyone have any recent experiences regarding Regulatory Compliance Exams of Privacy (Reg P stuff), especially FDIC, to share with others? What does the requested information include? What seemed to be the focus? Any "surprises"?

One of our banks(FDIC regulated) and the holding company recently experienced Privacy Exams. There were no surprises. The main focus of our exam was electronic security and backup systems. They also reviewed our Privacy Program, assessments, contracts and, of course, privacy policy. I believe you can download their checklist from the FDIC website.

We also recently went through the Privacy exam but with a different regulator. Loverna is correct with their request from us too. Also make sure you have your committee minutes and the Board awareness (approval) minutes. Also it helps you supply them with the direction your bank is going (are your sharing methods changing, what further due diligence will be reviewed, monitoring methods, etc).

Good Luck, it is not so bad as long as you have done your best and truly plan on doing more and even better. Be honest!


Opinions are mine not my employer.