Banks promised transparency into FDIC exams, startup applications, McWilliams says

15 January 2019 12:57pm
Banks will soon see how long it takes regulatory examinations and startup applications to be completed as part of the US Federal Deposit Insurance Corporation’s bank-backed transparency effort, Chairman Jelena McWilliams said.

“We are in the process of releasing this information,” she said at a Washington event* last week. “By making this information available to the public, we are holding ourselves publicly accountable to high standards".

The data will be released in financial institution letters and press releases, said McWilliams, whose “Trust Through Transparency” plan was her first policy initiative after taking the helm last June.