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5 Cards in this Set
- Front
- Back
What does MRBA stand for? |
Matters requiring board attention |
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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 |
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MRBA are: |
Significant matters requiring board attention
Actions intends to correct a CMS weakness
Prompt corrective action warranted
Supervisory follow-up required |
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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 |
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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. |