OFFICE OF THE COMPTROLLER OF THE CURRENCY ISSUES PROPOSED RULE: REAL ESTATE LENDING ESCROW ACCOUNTS

WASHINGTON, Dec. 30 -- Office of the Comptroller of the Currency has issued a proposed rule called: Real Estate Lending Escrow Accounts.

The proposed rule was published in the Federal Register on Dec. 30 by Jonathan V. Gould, Comptroller of the Currency.

Summary: The OCC is issuing a notice of proposed rulemaking to codify longstanding 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 judgment 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 Counse...