The top regulator of banks and credit unions in Pennsylvania is attacking what he calls the "gotcha" practice of surprise exams.
"The businesses and professionals we supervise should know what to expect from us," wrote Glenn Moyer, Pennsylvania secretary of banking, in the agency's spring bulletin out this week.
He said the department expects to enhance transparency and reduce uncertainty in the exam process by increasing the level and depth of communications through a new agency unit called Client Financial Services.
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