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Loan and Mortgage Terms Glossary

Federal Financial Institutions Examination Council (Ffiec):

An organization established by congress in 1987 to coordinate and unify regulations, standards and report forms among the five member federal agencies that regulate savings institutions, commercial banks and credit unions: office of thrift supervision, office of the comptroller of the currency, board of governors of the federal reserve system, federal deposit insurance corporation, and national credit union administration. The work of the council is carried out by five task forces, made up of representatives of each agency, dealing with: education and training, supervision, reports, consumer compliance, and surveillance. Also known as the exam council.


 
     
 
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