US Agencies Reaffirm the Role of Supervisory Guidance
US Agencies (CFPB, FDIC, FED, NCUA, and OCC) issued a joint statement explaining the role of supervisory guidance for regulated institutions. The statement confirms that supervisory guidance does not have the force and effect of law and that the agencies do not take enforcement actions based on supervisory guidance. The supervisory guidance can outline the agencies' supervisory expectations or priorities and articulate the agencies' general views about appropriate practices for a given subject area.
Keywords: Americas, US, Banking, Supervisory Guidance, Supervisory Expectations, US Agencies
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