Excerpt: "We determined that the FDIC’s supervisory approach to financial institutions that conducted business with merchants on the [DOJ's] high-risk list was within the Corporation’s broad authorities granted under the FDI Act and other relevant statutes and regulations. However, the manner in which the supervisory approach was carried-out was not always consistent with the FDIC’s written policy and guidance."
Wednesday, September 23, 2015
Inspector General's Report on the FDIC's Role in "Operation Choke Point"
The Office of the Inspector General's just released report is here.
Excerpt: "We determined that the FDIC’s supervisory approach to financial institutions that conducted business with merchants on the [DOJ's] high-risk list was within the Corporation’s broad authorities granted under the FDI Act and other relevant statutes and regulations. However, the manner in which the supervisory approach was carried-out was not always consistent with the FDIC’s written policy and guidance."
Excerpt: "We determined that the FDIC’s supervisory approach to financial institutions that conducted business with merchants on the [DOJ's] high-risk list was within the Corporation’s broad authorities granted under the FDI Act and other relevant statutes and regulations. However, the manner in which the supervisory approach was carried-out was not always consistent with the FDIC’s written policy and guidance."
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