Starting June 1, Federal Deposit Insurance Corp. examiners will spend less time scrutinizing how 6,500 banks sell investment products.

Under new exam procedures for certain state banks, examiners will follow a two-tier system for inspecting sales of mutual funds, annuities, and other uninsured investment products. The core, or basic, exam assesses five general areas, such as customer disclosures and employee qualifications. If no problems crop up, the exam is over.

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