FFIEC

The Federal Financial Institutions Examination Council (FFIEC) is an interagency body of the U.S. government made up of several U.S. financial regulatory agencies. The FFIEC was created on March 10, 1979, and is meant to promote consistent and uniform standards for financial institutions; the council also oversees the appraisal of real estate in the U.S.

Reg E

Regulation E is a Federal Reserve regulation that outlines rules and procedures for electronic funds transfers (EFTs) and provides guidelines for issuers and sellers of electronic debit cards. Much of Regulation E outlines the procedures consumers must follow in reporting errors with EFTs, and the steps a bank must take to provide recourse. Errors subject to these regulations could include the consumer's receipt of an incorrect amount of money from an ATM, unauthorized credit or debit card activity, or an unauthorized wire transfer to or from a consumer's account.

CRA

The Community Reinvestment Act (CRA) is a federal law enacted in 1977 with the intent of encouraging depository institutions to help meet the credit needs of low- and moderate-income neighborhoods. The CRA requires federal regulators to assess how well each bank or thrift fulfills its obligations to these communities. This score is used in evaluating applications for future approval of bank mergers, charters, acquisitions, branch openings, and deposit facilities.

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