Purpose of the CCRS Framework

Answered by:

Question:

What’s the purpose of the Consumer Compliance Rating System in the first place, don’t examiners just know whether we fall into a specific numerical compliance rating category based on the “smell” test?

Answer:

The primary purpose of the CCRS is to ensure that all banks are evaluated in a comprehensive and consistent manner and that supervisory resources are appropriately focused on areas exhibiting risk of consumer harm and on banks that warrant elevated supervisory attention based on past findings.

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Revised FFIEC Consumer Compliance Rating System