Alert November 04, 2008

OTS Issues Red Flags and Address Discrepancies Examination Procedures

The OTS issued a CEO Memorandum on procedures examiners will follow while reviewing compliance with the OTS’s Red Flags and address discrepancy rules. Click here for the memorandum.  Recently, the other federal banking agencies also issued similar examination procedures.  Click here for the FDIC’s procedures, here for the OCC’s and here for the Fed’s related supervisory letter.