The Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued on May 31, 2017, Interagency Advisory on the Availability of Appraisers to address concerns regarding the limited availability of state-certified and -licensed appraisers, particularly in rural areas. More... Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) requires appraisals for federally related transactions to be performed by individuals who meet certain state-certification or -licensing requirements. The advisory highlights two existing options—temporary practice permits and temporary waivers—to help insured depository institutions and bank holding companies facilitate the timely consideration of loan applications in areas facing a shortage of appraisers (Guidance, Real Estate Appraisal at 3-1577.2).

The Board is proposing to amend Regulation CC (Availability of Funds and Collection of Checks) to address situations where there is a dispute as to whether a check has been altered or is a forgery, and the original paper check is not available for inspection. More... The proposed rule would adopt a presumption of alteration for any dispute over whether the dollar amount or the payee on a substitute check or electronic check has been altered or whether the substitute check or electronic check is derived from an original check that is a forgery. This rule is intended to provide clarity as to the burden of proof in these situations. Comments on this notice of proposed rulemaking must be received by August 1, 2017 (Docket R-1564).