This year, the California Department of Financial Institutions is doing away with paper examination reports for state chartered credit unions and banks and moving to an electronic system, the DFI said in its December 2012 bulletin, posted online by the department Jan. 11.
The elimination of hard copy reports will reduce the DFI’s use of paper, postage costs and need for file storage space, as well as the time it takes to deliver completed examination reports to licensees and federal regulators, the agency said.
The department said examination reports will be delivered in PDF format by secure email to licensees and federal regulators.
