On June 4, 2012, the five federal supervisory agencies identified below released a Memorandum of Understanding (MOU) that clarifies how they will coordinate their supervisory activities, consistent with the Dodd-Frank Act. Section 1025 of the Dodd-Frank Act requires that the Consumer Financial Protection Bureau (CFPB), the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) coordinate their supervision of insured depository institutions with more than $10 billion in assets and their affiliates, including scheduling examinations, conducting simultaneous examinations of covered depository institutions unless an institution requests separate examinations, and sharing draft reports of examination for comment.

Complete Memorandum