The Federal Financial Institutions Examination Council (“FFIEC”) released proposed guidance designed to help financial institutions ensure that their risk management and consumer protection practices address the compliance and reputation risks raised by reverse mortgage lending. The proposed guidance discusses the general features of reverse mortgage products, relevant legal requirements, and consumer protection concerns. It also focuses on the need for financial institutions to provide clear and balanced information to consumers about the risks and benefits of reverse mortgages when consumers are making product decisions. Financial institutions have to inform consumers of alternatives to reverse mortgages, require consumers receive qualified independent counseling, and take steps to avoid any appearance of conflicts of interests. Comments must be received 60 days from publication in the Federal Register.