The Draft Report shows that conversations between staff and FDIC Board people in the programs that are RAL uncommon and improper.
However, as discussed below, such talks are anticipated and appropriate. No person in the FDIC Board directed FDIC staff to order any banking institutions to discontinue offering products that are RAL to simply simply take any action that has been maybe not sustained by supervisory findings.
The FDIC bylaws established the organizational structure for the FDIC together with foundation for communications and exercise of authority of both the FDIC Board as well as its Officers. The FDIC Board has responsibility that is overall handling the FDIC, while day-to-day duty for managing the FDIC and supervising its Officers is delegated towards the FDIC Chairman. Read more