The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council has invited comment on a proposed rule to implement a framework to govern the ASC's enforcement authority regarding the effectiveness of appraiser and appraisal management company programs overseen by state appraiser regulatory agencies, according to the ASC, which indicated this announcement was posted on Dec. 6 in the Federal Register.

The proposed rule would codify the existing compliance review process with modifications. It would also require an analysis to assess program effectiveness, outline requirements for maintaining effective programs, and authorize the ASC to bring enforcement actions against such agencies that fail to maintain effective programs.

All comments must be submitted on or  before Feb. 4.

Commenters are encouraged to make submissions through the Federal eRulemaking Portal or by email, if possible.