View Rule

The CFPB is participating in interagency rulemaking processes with the Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration Board (NCUA), and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) to develop regulations to implement the amendments made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) concerning appraisals.  The amendments made by the Dodd-Frank Act to FIRREA require the Agencies to establish certain minimum requirements to be applied by states in the registration, reporting, and supervision of appraisal management companies (AMCs).  The Agencies issued a final rule to implement these Dodd-Frank Act's AMC amendments to FIRREA on April 30, 2015, which was published in the Federal Register on June 9, 2015.