In 2015, the Board published a final rule implementing section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which relates to the supervision and regulation of appraisal management companies (AMCs). An AMC is an entity that serves as an intermediary for, and provides certain appraisal-related services to, creditors. The Boardâs final rule instituted certain disclosure requirements for AMCs and U.S. states, which are located in the Boardâs Regulation Y- Bank Holding Companies and Change in Bank Control (12 CFR Part 225).
US Code:
12 USC 3353(a)
Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
US Code:
12 USC 3353(e)
Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
US Code:
12 USC 3338(a)(1)-(3)
Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
FRHY5_FDICBurdenMethodologyMemo.pdf
Disclosure Section 225.196 State reporting requirements to the Appraisal Subcommittee