Supporting Statement - Assuming Institution Customer Satisfaction Program

OMB Supporting Statement

FDIC Assuming Institution Customer Satisfaction Program

Purpose: To develop a “Customer Satisfaction Program” in the FDIC’s Division of Resolution and Receiverships that will allow for Executives, Officers and Directors of Assuming Institutions (AI) who have acquired failed institution franchises to provide an avenue for constructive feedback, including complaints or compliments to the FDIC following their acquisition of the franchise.

The purpose of the program’s development is two-fold. First, to remedy any valid situations brought to the attention of the FDIC which may pose financial, logistical or other problems for the Assuming Institution. Those issues may or may not be covered in the transaction documents. Secondly, to examine FDIC policies, procedures and practices which may be improved or strengthened as a result of direct feedback and suggestions from Assuming Institution personnel. The end result is a focus upon developing “repeat” buyers who have a high degree of customer satisfaction based upon a seamless franchise transaction.

Assuming Institution Customer Satisfaction Program Procedures:

The procedures that are recommended for this initiative involve three components that will allow for full feedback from all recent and future AI customers.

First, in recognition of the fact that the Division of Resolutions and Receiverships (DRR) values the feedback from previous franchise buyers, an FDIC Business Card titled “AI Hotline” will be distributed at the bank closing to representatives of the Assuming Institution. They will be encouraged to call the toll-free hotline number (1-877-289-2089) in the weeks and months ahead in the event there is a need to rectify a problem following the financial institution closing or during the course of settlement with the franchise buyer. The business card also identifies an e-mail address, AIHotline@fdic.gov that can be used by the Assuming Institution of contact FDIC as an alternative to the toll-free telephone number.

Second, a short survey will be e-mailed to franchise buyers or investment group executives to measure the degree of customer satisfaction and to gather any positive or negative feedback which may prove beneficial to FDIC. The survey will be e-mailed to an Assuming Institution representative seven (7) to ten (10) days following bank failure. Filling out the short survey will be strictly voluntary and should take no more than 15 minutes to complete. All feedback will be categorized and any valid issues will be resolved through the appropriate program area in Dallas, Irvine, Jacksonville or Washington DC. AI comments and follow up task results will be provided to the DRR Senior Executive Management team on a regular basis. This component will be prepared to begin in January 2010.

Third, approximately 30 to 45 days following the AI’s acquisition of the failed bank, a telephone call will be placed by Assistant Director Robert Schoppe (or his designee in Strategic Operations) to an AI representative. A set of questions has been developed that will be asked and the answers will be maintained by the Strategic Operations Technician. Any issues raised will be forwarded to the responsible program area for resolution and the issues will be tracked by the Strategic Operations Technician. The approximate timeframe to answer the 12 questions that have been developed will be between 20 to 30 minutes on average.

Burden Estimates:

Initial Survey

Estimated number of respondents: 242

Estimated response time: 15 minutes.

Estimated burden: 61 hours (rounded up from 60.5)

Follow-up Survey:

Estimated number of respondents: 242

Estimated Response time: 30 minutes

Estimated burden: 121 hours

Total estimated Burden: 182 hours