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5 Cards in this Set

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What does MRBA stand for?

Matters requiring board attention

What are the three types of feedback we provide to bankers to help them address violations , improve CMS, and prevent consumer harm.

1 Best practices or verbal/informal suggestions


2. Recommendations that management can correct


3. MRBAs which address the most significant issues

MRBA are:

Significant matters requiring board attention



Actions intends to correct a CMS weakness



Prompt corrective action warranted



Supervisory follow-up required

Recommendations are

Matters that warrant management attention


Actions to enhance the CMS


Low-risk of consumer harm


Correctable in the normal course of business


Supervisory follow-up optional

MRBA reports should include

1. ISSUE-specific issue warranting attention


2. ACTION-measurable action to be taken and


3. BENEFIT or CONSEQUENCE-Benefit to prompt corrective action or potential consequences of inaction .



Followed by management response and timeframes for implementation. Also include a conclusion to remind the Board of their responsibility to respond to the MRBA.