Federal Reserve Board
FRB’s Faster Payments Task Force issues final report. The Federal Reserve Board announced that the Faster Payments Task Force has concluded its work and published a final report, which calls for payment system stakeholders to create a better payment system and makes specific recommendations regarding the infrastructure needed to support faster payments and the need to address evolving security threats, meet changing end-user needs, and foster continuous innovation through new technologies. (7/24/2017) FRB press release.
OCC OCC, FRB and FDIC issue notice of proposed rulemaking to exempt commercial real estate transactions of US$400,000 or less from appraisal requirements. The OCC, along with the FRB and the FDIC, issued a notice of proposed rulemaking to raise the threshold for commercial real estate transactions requiring an appraisal to US$400,000. Comments will be accepted for 60 days from publication in the Federal Register. (7/19/2017)
OCC to host Kansas City workshop for board directors and bank management. The OCC announced that it will be hosting a workshop in Kansas City, Mo., at the Westin Kansas City at Crown Center, August 28-30, for directors, senior management team members and other key executives of national community banks and federal savings associations supervised by the OCC. The Building Blocks for Directors workshop will provide practical information on the roles and responsibilities of board participation, and will focus on duties and core responsibilities of directors and management, discuss major laws and regulations, and increase familiarity with the examination process.
Improved mortgage performance reported for first quarter of 2017. The OCC announced the release of its OCC Mortgage Metrics Report, First Quarter 2017, which showed that performance of first-lien mortgages improved during the first quarter of 2017 compared with a year earlier. (7/13/2017)
Supervisory appeals guidelines revised. The FDIC announced that it has revised its guidelines for appeals of certain material supervisory determinations to expand the circumstances under which banks may appeal a material supervisory determination and enhance consistency with the appeals processes of other federal banking agencies. (7/18/2017)