The OCC adopted a final rule that will (i) streamline regulations for national banks and (ii) update the regulatory framework for federal savings associations on "other real estate owned" activities.
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A bank settled OCC charges for violating the statutory holding period for "other real estate owned" and failing to implement corrective measures.
The Federal Reserve Board, OCC and FDIC joint final rule exempting residential real estate transactions of $400,000 or less from appraisal requirements was published in the Federal Register.
The Federal Reserve Board, the Office of the Comptroller of the Currency, and the FDIC adopted a final rule that will exempt residential real estate transactions of $400,000 or less from appraisal requirements.
The Office of the Comptroller of the Currency ("OCC") proposed a rule that would (i) streamline regulations for national banks and (ii) update the regulatory framework for federal savings associations on "other real estate owned" ("OREO") activities. Previously, OREO activities by federal savings associations were guided by capital regulations and handbooks issued by the Office of Thrift Supervision ("OTS"). The proposed framework is generally consistent with the prior OTS framework. The OCC proposed, among other changes, to: revise the terminology in the current definition of "debts