Effective date for Interagency final rule on Appraisal Management Company registration and supervision

Five federal agencies -- the OCC, Federal Reserve, FDIC, CFPB and FHFA -- have jointly published in today's Federal Register 80 FR 32657] their previously announced [see Top Stories for May 1, 2015] final rule to implement the minimum requirements in the Dodd-Frank Act to be applied by participating States in the registration and supervision of appraisal management companies (AMCs). The final rule also implements the minimum requirements in the Dodd-Frank Act for AMCs that are subsidiaries owned and controlled by an insured depository institution and regulated by a Federal financial institutions regulatory agency (Federally regulated AMCs). The rule becomes effective August 8, 2015. The mandatory compliance date for Federally regulated AMCs is August 8, 2016.