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FDIC RIN: 3064-AE95 Publication ID: Spring 2024 
Title: Appraisal Independence 
Abstract:

The FDIC plans to develop a joint notice of proposed rulemaking with the OCC, FRB, FHFA, CFPB, and NCUA to implement section 129E of the Truth in Lending Act, which was enacted as section 1472 of the Dodd-Frank Act.  Section 129E establishes that real estate appraisals used to support creditors’ underwriting decisions should be based on the appraiser’s independent professional judgment.  The rule also seeks to ensure that appraisers receive customary and reasonable payments for their services.

 
Agency: Federal Deposit Insurance Corporation(FDIC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Long-Term Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 323   
Legal Authority: 12 U.S.C. 1819(a) ("Seventh" and "Tenth")    12 U.S.C. 3331    12 U.S.C. 5301   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  To Be Determined 
Additional Information: E-mail: Comments@FDIC.gov. Please include RIN 3064-AE95 on the subject line of the message.
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.fdic.gov/resources/regulations/federal-register-publications/   Public Comment URL: https://www.fdic.gov/resources/regulations/federal-register-publications/  
RIN Data Printed in the FR: No 
Related Agencies: Joint: TREAS/OCC, FRS, NCUA, CFPB, FHFA; 
Agency Contact:
Mark A. Mellon
Counsel, Legal Division
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20429
Phone:202 898-3884
Email: mmellon@fdic.gov

Lauren A. Whitaker
Counsel
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20459
Phone:202 898-3872
Email: lwhitaker@fdic.gov