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FDIC Publishes 2020 Annual Report
The Federal Deposit Insurance Corporation released its 2020 Annual Report. The report opens with a message from FDIC Chairman Jelena McWilliams highlighting the Corporation’s accomplishments in 2020, including:
- Swift, decisive actions that helped maintain stability in financial markets during the COVID-19 pandemic, including targeted regulatory changes to facilitate lending to consumers and small businesses;
- Efforts to expand access to banking, particularly among minority and low- and moderate-income communities, and to support Minority Depository Institutions;
- Progress on the agency’s commitment to fostering a diverse workforce and inclusive work environment;
- Efforts to support the development of new technologies that improve the way banks operate and provide services to consumers;
- Independent and interagency actions taken on necessary and appropriate rulemakings; and
- Measures to enhance the FDIC’s resolution readiness.
The report also provides details on developments in each of the FDIC’s primary functional areas – deposit insurance, supervision, research and analysis, depositor and consumer protection, and resolutions and receiverships – and includes performance results, audited financial statements, and the Government Accountability Office’s auditor’s report.
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