The banking agencies set a comment deadline of August 21, 2023 for a proposed to require mortgage originators and secondary market issuers to ensure that "automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."
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Banking agencies proposed a rule that would require mortgage originators and secondary market issuers to "adopt policies, practices, procedures, and control systems to ensure that automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."
FinCEN, the Federal Reserve Board, the FDIC, the National Credit Union Administration and the OCC issued new guidance on suspicious activity reporting for covered financial institutions.
Multiple agencies requested comment on a joint proposal that would limit incentive-based compensation arrangements at covered institutions. The request for comment was published in the Federal Register.
Six regulatory agencies requested comment on a proposed rule regulating incentive-based compensation arrangements at covered institutions as required by the Dodd-Frank Act.