Banks Benefit from RFI Participation

Regulatory risk is one of the biggest challenges every banker faces in today’s post Dodd-Frank environment. That’s why the Iowa Bankers Association (IBA) joined with bankers associations across the country to create the Regulatory Feedback Initiative (RFI).

What is RFI?  The RFI is a brief, anonymous online survey you can complete immediately following each safety and soundness and compliance examination at your bank. The data we collect will allow us to track regulatory practices around the state, from state to state and from regulator to regulator. The survey is completely anonymous. The data is only available in aggregate form, and there is no way your specific data and comments can be traced back to your bank.

How will the data be used?  The data will enable us to identify any inconsistencies or misguided regulatory treatment as it unfolds. It will also help us work more effectively with the various regulatory agencies and suggest ways to make necessary changes in the examination process.

How will your bank benefit?  We’ll also prepare custom “Exam Preparation Reports” for individual banks, including a summary of reports filed by similarly situated institutions that will help banks better prepare for the next exam.  This initiative is vital to improving the regulatory environment for banks in Iowa and across the country. There is no cost to participate in the survey.

For more information on RFI, contact Dodie Bauman at (800) 532-1423.

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