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FDIC Chairman McWilliams Announces First Public Policy Initiative

Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams announced a new "Trust through Transparency" initiative at the Community Banking in the 21st Century Research and Policy Conference held at the St. Louis Federal Reserve. It is the first policy initiative she has announced since taking the helm of the FDIC in May.  

The initiative is intended to make the FDIC accessible, understandable, responsive and accountable, she said. To kick off the initiative, the FDIC will: 

  • publish new FDIC performance metrics on its website with quantifiable measurements of performance, such as turnaround times for examinations and applications, including de novo applications 
  • provide metrics on its call center usage and timely response rates 
  • make its policies and procedures available, including those related to how the FDIC processes and evaluate applications, including de novo applications and  
  • post information on how case managers and examiners implement the risk-focused supervision program.  

Chairman McWilliams also described her nationwide listening tour of banks and their customers as a way to “reverse the long-standing trend of having those affected by our regulations come to Washington to be heard. It is long overdue that we come to them instead.” 

Her full remarks are available here.

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