Preparing for full interstate branching on June 1, the Federal Deposit Insurance Corp. will inform banks today that it has streamlined oversight of institutions that operate in multiple states.

Instead of communicating with several bureaucrats in different regional offices, each multistate banking organization now will be assigned a single FDIC official near its headquarters who will be an expert on its operations nationwide.

The FDIC has created a team of approximately 200 examiners for the job. These case managers will review all exam reports, process applications, and handle enforcement actions connected with their designated organizations. In cooperation with other regulators, they also will prepare quarterly reports on large institutions.

-Dean Anason

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