Federal Financial Institutions Examination Council

Overview

The Federal Financial Institutions Examination Council (FFIEC) is a U.S. government agency established in 1979, comprising multiple regulatory bodies including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency. The agency's primary function is to ensure the integrity and accuracy of financial data reported by financial institutions, particularly in relation to the Community Reinvestment Act (CRA). One of its key published documents, titled "2025 CRA Edits," provides a detailed checklist of edit types used to assess the accuracy of CRA data submissions. These edits are categorized into syntactical, validity, and quality types, each addressing specific issues that may arise in reported data. The FFIEC emphasizes the importance of accurate data reporting and provides guidelines for institutions to verify and correct any discrepancies. The agency operates with a small workforce of 11 to 50 employees and is focused on enhancing communication and compliance within the financial sector.

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