DEPARTMENT OF THE TREASURY ISSUES RULE: REAL ESTATE LENDING ESCROW ACCOUNTS

WASHINGTON, May 19 -- Department Of The Treasury has issued a rule called: Real Estate Lending Escrow Accounts.

The rule was published in the Federal Register on May 19 by Jonathan V. Gould, Comptroller of the Currency.

Summary: The OCC is issuing a final rule to codify longstanding and recognized powers of national banks and Federal savings associations (collectively, banks) to establish or maintain real estate lending escrow accounts and to exercise flexibility in making business judgments as to the terms and conditions of such accounts, including whether and to what extent to offer any compensation or to assess any fees related thereto.

For more information, contact Karen McSweeney, Special Counsel, Graham Bannon, Counsel, and Priscil...