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FFIEC
The Federal Financial Institutions Examination Council (FFIEC) is a formal U.S. government interagency body composed of five banking regulators that is "empowered to prescribe uniform principles, standards, and report forms to promote uniformity in the supervision of financial institutions". It also oversees real estate appraisal in the United States. Its regulations are contained in title 12 of the Code of Federal Regulations. Composition FFIEC includes five banking regulators—the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB). History FFIEC was established March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA). Housing and real estate The FFIEC was given additional statutory responsibilities by section 340 of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Mortgage Disclosure Act Of 1975
The Home Mortgage Disclosure Act (or HMDA, pronounced ) is a United States federal law that requires certain financial institutions to provide mortgage data to the public. Congress enacted HMDA in 1975. Purposes HMDA grew out of public concern over credit shortages in certain urban neighborhoods. Congress believed that some financial institutions had contributed to the decline of some geographic areas by their failure to provide adequate home financing to qualified applicants on reasonable terms and conditions. Thus, one purpose of HMDA and Regulation C is to provide the public with information that will help show whether financial institutions are serving the housing credit needs of the neighborhoods and communities in which they are located. A second purpose is to aid public officials in targeting public investments from the private sector to areas where they are needed. Finally, the FIRREA amendments of 1989 require the collection and disclosure of data about applicant and bor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-factor Authentication
Multi-factor authentication (MFA; encompassing two-factor authentication, or 2FA, along with similar terms) is an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more pieces of evidence (or factors) to an authentication mechanism: knowledge (something only the user knows), possession (something only the user has), and inherence (something only the user is). MFA protects user data—which may include personal identification or financial assets—from being accessed by an unauthorized third party that may have been able to discover, for example, a single password. A ''third-party authenticator'' (TPA) app enables two-factor authentication, usually by showing a randomly generated and frequently changing code to use for authentication. Factors Authentication takes place when someone tries to log into a computer resource (such as a network, device, or application). The resource requires the u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Appraisal Foundation
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. The aim is to ensure appraisals are impartial, objective and independent, are conducted without bias and are performed in an ethical and competent manner. The Appraisal Foundation is a non-profit organization established in 1987 by the largest valuation organizations in North America. The foundation was congressionally authorized to develop standards and qualifications for real estate appraisers under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Under this legislation, the foundation is overseen by the Appraisal Subcommittee (ASC), a subcommittee of the Federal Financial Institutions E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth And Regulatory Paperwork Reduction Act
The Economic Growth and Regulatory Paperwork Reduction Act of 1996 or EGRPRA (passed as part of ''Omnibus Consolidated Appropriations Act of 1997'' ) is a United States federal law The law of the United States comprises many levels of codified and uncodified forms of law, of which the most important is the nation's Constitution, which prescribes the foundation of the federal government of the United States, as well as va ... that requires the Federal Financial Institutions Examination Council and its member agencies to review their regulations at least once every 10 years to identify any outdated, unnecessary or unduly burdensome regulatory requirements imposed on insured depository institutions. The first EGRPRA review was completed with a report submitted to Congress in July 2007 and the second EGRPRA review was completed with a report submitted to Congress in March 2017. References External links Official websiteFirst EGRPRA Report (2007)Second EGRPRA Report (2017) Acts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strong Authentication
Strong authentication is a notion with several definitions. Strong (customer) authentication definitions Strong authentication is often confused with two-factor authentication (more generally known as multi-factor authentication), but strong authentication is not necessarily multi-factor authentication. Soliciting multiple answers to challenge questions may be considered strong authentication but, unless the process also retrieves 'something you have' or 'something you are', it would not be considered multi-factor authentication. The FFIEC issued supplemental guidance on this subject in August 2006, in which they clarified, "By definition true multifactor authentication requires the use of solutions from two or more of the three categories of factors. Using multiple solutions from the same category ... would not constitute multifactor authentication." Another commonly found class of definitions relates to a cryptographic process, or more precisely, authentication based on a ch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Institutions Regulatory And Interest Rate Control Act Of 1978
The Financial Institutions Regulatory and Interest Rate Control Act of 1978 is a United States federal law. Among other measures, it established the Federal Financial Institutions Examination Council (FFIEC, under Title X of the act) and authorized national security letters (NSLs, under the Right to Financial Privacy Act The Right to Financial Privacy Act of 1978 (RFPA; codified at , ''et seq.'') is a United States federal law, Title XI of the Financial Institutions Regulatory and Interest Rate Control Act of 1978, that gives the customers of financial institutio ..., Title XI of the act). References * External links"About the FFIEC" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Institutions Reform, Recovery And Enforcement Act Of 1989
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors. It transferred thrift regulatory authority from the Federal Home Loan Bank Board to the Office of Thrift Supervision. It dramatically changed the savings and loan industry and its federal regulation, encouraging loan origination. Overview FIRREA dramatically changed the savings and loan industry and its federal regulation, including deposit insurance. The "Paulson Blueprint" summarized it in the following: # The Federal Home Loan Bank Board (FHLBB) was abolished. # The Federal Savings and Loan Insurance Corporation (FSLIC) was abolished, and all assets and liabilities were assumed by the FSLIC Resolution Fund administered by the FDIC and funded by the Financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Appraisal
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic). The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property. Besides the mandatory educational grade, which can vary from Finance to Construction Technology, most, but not all, countries require appraisers to have the license for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metropolitan Statistical Area
In the United States, a metropolitan statistical area (MSA) is a geographical region with a relatively high population density at its core and close economic ties throughout the area. Such regions are neither legally Incorporated town, incorporated as a city or town would be, nor are they legal administrative divisions like County (United States), counties or separate entities such as U.S. state, states; because of this, the precise definition of any given metropolitan area can vary with the source. The statistical criteria for a standard metropolitan area were defined in 1949 and redefined as metropolitan statistical area in 1983. A typical metropolitan area is centered on a single large city that wields substantial influence over the region (e.g., New York City or Chicago). However, some metropolitan areas contain more than one large city with no single municipality holding a substantially dominant position (e.g., Dallas–Fort Worth metroplex, Hampton Roads, Virginia B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Comptroller Of The Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The acting Comptroller of the Currency is Michael J. Hsu, who took office on May 10, 2021. Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 92 operating locations throughout the United States. It is an independent bureau of the United States Department of the Treasury and is headed by the Comptroller of the Currency, appointed to a five-year term by the President with the consent of the Senate. The OCC pursues a number of main objectives: * to ensure the safety and soundness of the national banking system; * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Title 12 Of The Code Of Federal Regulations
CFR Title 12 – Banks and Banking is one of 50 titles composing the United States Code of Federal Regulations In the law of the United States, the ''Code of Federal Regulations'' (''CFR'') is the codification of the general and permanent regulations promulgated by the executive departments and agencies of the federal government of the United States. ... (CFR) and contains the principal set of rules and regulations issued by federal agencies regarding banks and banking. It is available in digital and printed form and can be referenced online using thElectronic Code of Federal Regulations(e-CFR). Structure The table of contents, as reflected in the e-CFR updated March 5, 2014, is as follows: 12 {{US-law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Fite
Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (other) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the Apostle * Thomas (bishop of the East Angles) (fl. 640s–650s), medieval Bishop of the East Angles * Thomas (Archdeacon of Barnstaple) (fl. 1203), Archdeacon of Barnstaple * Thomas, Count of Perche (1195–1217), Count of Perche * Thomas (bishop of Finland) (1248), first known Bishop of Finland * Thomas, Earl of Mar (1330–1377), 14th-century Earl, Aberdeen, Scotland Geography Places in the United States * Thomas, Illinois * Thomas, Indiana * Thomas, Oklahoma * Thomas, Oregon * Thomas, South Dakota * Thomas, Virginia * Thomas, Washington * Thomas, West Virginia * Thomas County (other) * Thomas Township (other) Elsewhere * Thomas Glacier (Greenland) Arts, entertainment, and media *Thomas (Burton novel), ''Thomas'' (Bur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
