The MBA has joined with the Coalition of Bankers Associations to create the Regulatory Feedback Initiative (RFI). The RFI consists of a confidential electronic platform where banks can anonymously provide details on their most recent examination or visitation to bring transparency and accountability to the regulatory process and to help banks prepare for their examinations and manage their regulatory risk. The survey is powered by Allegiance, Inc., an independent third party with a reputation and track record of collecting anonymous and protected feedback from banks.
How it Works
The MBA asks you to complete one survey for your most recent safety and soundness examination and one survey for your most recent compliance exam, regardless of when they occurred. After inputting the initial data, we will ask banks to use the tool after each future exam or visitation. The resulting database of examination experiences will be a powerful resource for the entire industry. Once banks enter data, the MBA will be able to prepare a complimentary custom "Exam Preparation Report" for individual banks which will include a summary of all the reports filed by similarly situated Minnesota banks (i.e. asset size, primary regulator, exam type, etc.).
To ensure the anonymity of your responses, the RFI software provides if custom data is filtered so narrowly as to generate a result that contains less than five responses to any question, the results are left blank. Thus, your participation in the survey is critical to ensuring we can provide you meaningful information to prepare for your next exam.
A sample "Exam Preparation Report" based on actual data gathered in another state is available by clicking here.
This new tool is now ready for your input. For more information, **Watch the RFI Introduction Video** and visit Coalition of Bankers Associations's website, to view and print copies of the survey so that you can prepare your answers before you go online to take the survey.
When you are ready to take the survey, click the link below – it is the only way to access the confidential survey. **TAKE THE SURVEY**
The MBA staff contact for the Regulatory Feedback Initiative is Terry Tiller, Legal Products & Services Coordinator, Margaret Schade. Thank you for your participation.