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Yesterday, five federal agencies – the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Bureau of Consumer Financial Protection – issued a two-page, joint statement on the role of supervisory guidance for regulated institutions. Although brief, the joint statement is significant.

Federal Agencies Reaffirm that Supervisory Guidance Is Not Law – Who Knew?

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Yesterday, five federal agencies – the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Bureau of Consumer Financial Protection – issued a two-page, joint statement on the role of supervisory guidance for regulated institutions. Although brief, the joint statement is significant.Read our <a target="_blank" href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/bltd666e6f9d2ae004d/6273ecbda1a1dd2aa9f6e359/180912-supervisory-guidance.pdf">client alert</a>.

Federal Agencies Reaffirm that Supervisory Guidance Is Not Law – Who Knew?