Search Results for keywords:"Federal Financial Institutions Examination Council"

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Search Results: keywords:"Federal Financial Institutions Examination Council"

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  • 2024-27698 — Appraisal Subcommittee Enforcement Authority Regarding the Effectiveness of State Appraiser and Appraisal Management Company Regulatory Programs
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    Type:Proposed Rule
    Citation:89 FR 96912
    Reading Time:about 2 hours

    The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council has proposed a rule to guide its enforcement powers over the effectiveness of Appraiser and Appraisal Management Company (AMC) Programs managed by State Appraiser Regulatory Agencies. This proposed rule aims to formalize the current compliance review process with some modifications, requiring evaluation of program effectiveness and setting requirements for maintaining effective programs. It also authorizes the ASC to take enforcement actions, such as issuing warnings or suspending programs that do not meet effectiveness standards. Public comments on this proposal are invited by February 4, 2025.

    Simple Explanation

    The Appraisal Subcommittee wants to make sure that people who judge house prices are doing a good job, and if they aren't, the Subcommittee can remind them or stop them until they fix the problems.

  • 2021-03210 — Agency Information Collection Activities; Submission for OMB Review; Comment Request
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    Type:Notice
    Citation:86 FR 10157
    Reading Time:about 15 minutes

    The Office of the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation are seeking public comments on proposed updates to the Consolidated Reports of Condition and Income, also known as Call Reports. These updates, intended to remain effective through 2021, address changes in asset measurement dates due to temporary asset growth linked to relief programs from the COVID-19 pandemic. The modifications aim to help financial institutions manage reporting burdens by allowing them to use asset figures from either December 2019 or June 2020 for determining their reporting requirements for the upcoming year. The agencies are inviting feedback about the utility, accuracy, and potential burden of these changes as they move forward with the proposal.

    Simple Explanation

    The government wants to hear from people about new rules for banks to report the money they have. These rules let banks choose older numbers to make reporting easier during the pandemic, and the government wants to know if people think this plan is helpful or too complicated.