The Federal Reserve Board's issuance of a joint rulemaking that codifies a 2018 Interagency Statement Clarifying the Role of Supervisory Guidance will become effective May 10, 2021.
The final rule was adopted in conjunction with the National Credit Union Administration ("NCUA"), OCC, CFPB and FDIC. The final rules for the other banking agencies were previously published in the Federal Register with the following effective dates:
- March 1, 2021 for the NCUA;
- March 15, 2021 for the OCC and CFPB; and
- April 1, 2021 for the FDIC.
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