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.
Banking agencies expand bank eligibility for extended exam schedule
The federal banking agencies announced they are raising the asset threshold that certain banks must fall under to qualify for an extended 18-month examination schedule rather than a 12-month schedule.
