WASHINGTON—Five federal agencies today issued a joint statement explaining the role of supervisory guidance for regulated institutions.
The statement from the agencies—the Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency—confirms that supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance. The joint statement explains that supervisory guidance can outline the agencies’ supervisory expectations or priorities and articulate the agencies’ general views regarding appropriate practices for a given subject area.
Attachment: Interagency Statement on the Role of Supervisory Guidance (Opens new window)
| Agency | Contact Name | Phone |
|---|---|---|
Agency BCFP | Contact Name Samuel Gilford | Phone 202.435.7673 |
Agency FDIC | Contact Name David Barr | Phone 202.898.6992 |
Agency Federal Reserve | Contact Name Darren Gersh | Phone 202.452.2955 |
Agency NCUA | Contact Name John Fairbanks | Phone 703.518.6336 |
Agency OCC | Contact Name Stephanie Collins | Phone 202.649.6870 |