Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

FFIEC is an acronym for the Federal Financial Institutions Examination Council. Established in 1979, the FFIEC is an inter-agency group that creates guidelines for standardizing federal audits of financial institutions by the following organizations:

  • the Board of Governors of the Federal Reserve System (FRB)
  • the Federal Deposit Insurance Corporation (FDIC)
  • the National Credit Union Administration (NCUA)
  • the Office of the Comptroller of the Currency (OCC)
  • the Consumer Financial Protection Bureau (CFPB)
  • the State Liaison Committee (SLC)

FFIEC rules are filtered through these organizations down to the financial institutions under each entity’s respective purview. For a complete list of enforcement actions and orders by institution type, check out the FFIEC’s Enforcement Actions and Orders resource.

Downloadable FFIEC Materials

The FFIEC offers downloadable IT (information technology) booklets that provide guidance to examiners on a wide variety of topics:

  • IT audits
  • Business continuity management
  • Development and acquisition
  • E-banking
  • Information security
  • Management
  • Operations
  • Outsourcing technology services
  • Retail payment systems
  • Supervision of technology service providers
  • Wholesale payment systems

Banking Compliance Resources

Looking for more information about bank and credit union compliance and loan operations? Be sure to check out our extensive resource library with free spreadsheets, whitepapers, videos and eBooks.

Browse our banking definitions page for more terminology.

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