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#1560084 - 06/03/11 01:13 PM Mandatory FDIC training
SmallTownGirl Offline
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Joined: Jan 2006
Posts: 76
Has there been any further development on the FDIC proposal to require FDIC supplied training to our staff on an annual basis? I was pretty certain I wouldn't have missed something like that if a final rule had been issued but wondered if anyone had heard anything thru the numerous grapevines out there...

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General Discussion
#1560136 - 06/03/11 01:54 PM Re: Mandatory FDIC training SmallTownGirl
John Burnett Offline
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There are 35 comments posted on the FDIC's site, at http://www.fdic.gov/regulations/laws/federal/2011/11comad37.html. There is the usual smattering of rants and raves. About 30 of the comments are identified as submitted on behalf of banks.

One of the better comment letters, IMO, is one from TD Bank, N.A., at http://www.fdic.gov/regulations/laws/federal/2011/11c30AD37.PDF.

I don't imagine that the FDIC will issue a final rule unless it is substantially different from the proposal.
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#1560159 - 06/03/11 02:16 PM Re: Mandatory FDIC training John Burnett
SmallTownGirl Offline
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Go Agnes! So in all likelihood this is going to become mandatory at some point. We're just waiting for the FDIC to announce that their training site is open for business?

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#1560200 - 06/03/11 02:43 PM Re: Mandatory FDIC training SmallTownGirl
John Burnett Offline
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Actually, I am hoping that the FDIC takes some of the comments to heart and realizes what a poorly conceived idea it was. Since when does it make sense to mandate training for which there's no record keeping requirement? Why not admit that the major reason for all the calls and letters to the FDIC is a combination of the spate of bank failures and the recent surge in insurance rule changes?
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#1560334 - 06/03/11 04:22 PM Re: Mandatory FDIC training John Burnett
Tater Offline
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Joined: Jan 2006
Posts: 642
Missouri
Originally Posted By: John Burnett
Why not admit that the major reason for all the calls and letters to the FDIC is a combination of the spate of bank failures and the recent surge in insurance rule changes?


Because the only thing guaranteed to last longer than a government program is a government program that never admits any wrong-doing.

In any event, we've had all of our staff commit to attending the teleconferences on FDIC insurance throughout 2011. A quick 2-hour freebie isn't a big deal for most of our staff. Our state bank association and regulator (OCC) "encouraged" us to do this. Could be worse, I suppose.
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#1560360 - 06/03/11 04:45 PM Re: Mandatory FDIC training Tater
Elwood P. Dowd Offline
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Yes, it could be worse.

The major annoyance is that Agnes & John are telling it like it is and the FDIC is [censored] on our shoes and telling us it's raining.
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