Federal banking agencies will grant temporary exceptions to Financial Institutions Reform, Recovery and Enforcement Act appraisal requirements for real estate-related financial transactions in areas of Maui affected by last year’s Hawaiian wildfires. The exceptions are available provided a transaction would facilitate disaster recovery and is consistent with safety and soundness, the agencies said. The expiration date is Aug. 10, 2026, which will be three years after the date that President Biden issued a major disaster declaration for the area.
ABA: Same BSA regulations should apply to banks, digital assets
More work is needed to provide the regulatory certainty required to realize the promise of stablecoins and other digital assets, including ensuring that the same anti-money laundering regulations apply to equivalent financial activities, ABA said.
