The OCC, the FRB and the FDIC jointly issued (i) an interim final rule that delays the applicability date of the facility-based assessment areas and public file provisions contained in the Community Reinvestment Act and (ii) a final rule that makes related technical amendments.
News & Insights
Acting Comptroller of the Currency Michael J. Hsu prioritized "restoring public trust in the federal banking system" after the liquidity crisis, consequent market disruptions and bank failures early in the calendar year.
Banking agencies set a comment deadline of September 19, 2023 for proposed risk management guidance concerning "reconsiderations of value" in real estate transactions.
The Federal Reserve Board, CFPB, FDIC, National Credit Union Administration and OCC proposed risk management guidance for financial institutions on incorporating "reconsiderations of value" for residential real estate transactions.
Acting Comptroller of the Currency Michael J. Hsu evaluated the potential impact of open banking on the financial industry and consumers.