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Federal Deposit Insurance Corporation › Office of the Inspector General › Banking Sector

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Orrick, Herrington & Sutcliffe LLP

FDIC OIG confirms board oversight and liquidity issues led to a bank’s failure

Orrick, Herrington & Sutcliffe LLP on

On March 25, the Office for the Inspector General (OIG) for the FDIC issued a report on a 2023 bank failure, finding that the bank’s failure netted a $14.8 million estimated loss to the Deposit Insurance Fund (“DIF”), but...more

Sheppard Mullin Richter & Hampton LLP

OIG Issues Audit Memorandum to FDIC’s Regional Service Provider Examination Program, Impacts Fintechs

Sheppard Mullin Richter & Hampton LLP on

On December 21, the Office of Inspector General (OIG) of the FDIC issued its audit memorandum on the FDIC’s Regional Service Provider (RSP) Examination Program. The OIG’s objective was to assess the effectiveness of the...more

Orrick, Herrington & Sutcliffe LLP

FDIC OIG makes recommendations based on material loss report

Orrick, Herrington & Sutcliffe LLP on

On November 28, the OIG for the FDIC delivered a material loss review report. The report’s objectives were twofold: first, to determine why a bank’s issues led to a material loss to the deposit insurance fund; and second, to...more

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