The Federal Reserve Board, OCC and FDIC adopted an interim final rule which defers certain regulations requiring an appraisal or evaluation of real estate.
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The CFPB, Federal Reserve Board, FDIC, National Credit Union Administration and OCC clarified their compliance expectations for mortgage servicers on consumer communication requirements during the pandemic.
A Federal Reserve Board, FDIC, OCC, SEC and CFTC final rule amending the "covered funds" provisions of the Volcker Rule was published in the Federal Register.
At a Financial Stability Oversight Council meeting on June 11, 2021, Federal Reserve Board Vice Chair for Supervision Randal K. Quarles encouraged the move toward the Secured Overnight Financing Rate and warned banks that the use of USD LIBOR quotes available after December 2021 for new products would create safety-and-soundness risks.
The Federal Reserve Board, CFPB, FDIC, OCC, National Credit Union Administration and state financial regulators alerted mortgage servicers that they will resume their respective pre-pandemic supervisory and enforcement approaches towards noncompliance with mortgage-servicing rules.