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Informational Memorandum
Subject:Report on Violations of Consumer, Borrower Rights, and Flood Insurance Regulations
Date of Memorandum:04/15/2004
Expiration Date:
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:Violations of Consumer
Borrower Rights
and Flood Insurance Regulations Identified in FY 2003 Examinations SUMMARY REPORT


April 15, 2004

To: Chairman, Board of Directors
Chief Executive Officer
Each Farm Credit System Institution

From: Roland E. Smith, Director
Office of Examination

Subject: Report on Violations of Consumer, Borrower Rights, and Flood Insurance

Attached is a summary report on violations of consumer, borrower rights, and flood insurance regulations identified in Farm Credit Administration (FCA) examinations. The report, based on the examinations conducted, provides trends on the number and types of violations occurring over the past 5 fiscal years (1999 to 2003) in the Farm Credit System. We have required institutions to take corrective actions to ensure compliance with the regulations. Based on our follow-up activities, we have concluded that corrective actions have been taken or are in process by all affected institutions.

If you have any questions, please feel free to contact the Director of your respective FCA Field Office, or Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination, at (703) 883-4483, or correspond on the Internet at e-mail address

Violations summary report2003R.doc