The FDIC proposed to rescind and remove from the Code of Federal Regulations the section on " Lending and Investment." This regulation had been transferred to the FDIC from the Office of Thrift Supervision. According to the FDIC, "other existing regulations that concern permissible activities, safety and soundness standards, and real estate lending standards replicate the current requirements in part 390, subpart P."
In addition, the FDIC proposed to amend (i) sections of existing FDIC rules governing real estate lending standards to clarify that such rules are applicable to "all insured depository institutions for which the FDIC is the appropriate [f]ederal banking agency" and (ii) part 365, by rescinding the subpart dealing with registration requirements for residential mortgage loan originators on the grounds that supervision and rulemaking authority in this area was transferred to the Consumer Financial Protection Bureau, pursuant to the Dodd-Frank Act.
Comments must be submitted by April 8, 2019.
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