Federal Financial Regulators Finalize Uniform Compliance Program Standards

    View Author December 2016

    The Federal Financial Institutions Examination Council (FFIEC) has finalized a new Uniform Interagency Consumer Compliance Rating System (CC Rating System) to be effective on March 3, 2017. The new system updates a compliance rating system first announced in 1980 and follows comments on proposed changes published on May 3, 2016. The intention of the new CC Rating System announced on November 7, 2016 is to provide multiple federal financial regulators with a common framework for evaluating compliance programs, with a particular emphasis on managing risk of consumer harm.