december;2,;2010: Interagency appraisal and evaluation guidelines, which replace 1994
guidelines, explaining the agencies’ minimum regulatory standards for appraisals.
october;18,;2010: Interim final rule on real estate appraisal to ensure that real estate
appraisers are free to use their independent professional judgment in assigning home
values without influence or pressure from those with interests in the transactions. the rule
also seeks to ensure that appraisers receive customary and reasonable payments for their
*Note: Comments on interim rule were accepted through December 27, 2010.
September;29,;2010: community reinvestment act rule to implement higher education
opportunity act provision that requires, among other things, the consideration of low-cost
higher education loans to low-income borrowers as a positive factor when assessing a
financial institution’s record of meeting community credit needs under the cra.
august;16,;2010:;rules regarding consumer notification of mortgage loan sales or transfers.
Note: Institutions may continue to follow the November 2009 interim rules until the mandatory
compliance date for the final rules.
august;16,;2010: Interim rule revising the disclosure rules for closed-end mortgage loans
under reg. Z (truth in lending) to require lenders to disclose how borrowers’ regular mortgage
payments can change over time.
*Note: The Fed is also soliciting comment on the interim rule by November 23, 2010. The rule
is based on a provision in the July 23, 2009, closed-end mortgage proposal.
august;16,;2010: rules to protect mortgage borrowers from unfair, abusive, or deceptive
lending practices that can arise from loan originator compensation practices.
Note: The rule is based on provisions in the July 23, 2009 closed-end mortgage proposal.
July;28,;2010: rules requiring residential mortgage loan originators who are employees
of national and state banks, savings associations, Farm credit system institutions, credit
unions, and certain of their subsidiaries (agency-regulated institutions) to meet the registration
requirements of the secure and Fair enforcement for mortgage licensing act of 2008 (saFe
Note: The agencies anticipate that the registry could begin accepting federal registrations as
early as January 28, 2011. Employees of agency-regulated institutions must not register until
the agencies instruct them to do so. The agencies will provide an advance announcement of
the date when the registry will begin accepting federal registrations and agency-regulated
institutions and their applicable employees will have 180 days from that date to comply with
the initial registration requirements.
June;15,;2010: rule to protect credit card users from unreasonable late payment and other
penalty fees and to require credit card issuers to reconsider interest rate increases imposed
since the beginning of last year.
Note: The rule represents the third stage of the Federal Reserve’s implementation of the
Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act), which
was enacted in May 2009.
226.56 & in
March;11,;2010: revisions to Interagency Questions and answers regarding community
reinvestment (Q&as) to adopt
• a new question that provides examples of how to demonstrate that community
development services meet the criteria of serving low- and moderate-income areas and
• two revised Q&as to enable consideration of a pro rata share of mixed-income affordable
housing projects as community development projects