Conclusion and Issues for Consideration

Conclusion and Issues for Consideration

The important points produced by this review highly reinforce the issues and problems raised in the OIG’s earlier in the day Audit. The FDIC must candidly consider its leadership practices, its process and procedures, and the conduct of multiple individuals who made and implemented the decision to require banks to exit RALs in our view. The severity of the events warrants such consideration while we acknowledge that the events described in our report surrounding RALs involved only three of the FDIC’s many supervised institutions. The FDIC has to ask the way the actions described within our report could unfold because they did, in light for the FDIC’s claimed core values of integrity, accountability, and fairness. Further, the organization must deal with just exactly how it may avoid occurrences that are similar the long term.Continue reading