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Agencies Issue Statement Reaffirming the Role of Supervisory Guidance

WASHINGTON, D.C. — Five federal agencies today issued a joint statement explaining the role of supervisory guidance for regulated institutions.

The statement from the agencies—the Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency—confirms that supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance.  The joint statement explains that supervisory guidance can outline the agencies’ supervisory expectations or priorities and articulate the agencies’ general views regarding appropriate practices for a given subject area.

Interagency Statement on the Role of Supervisory Guidance

Media contacts

BCFP: Samuel Gilford — (202) 435-7673

FDIC: David Barr — (202) 898-6992

Federal Reserve: Darren Gersh — (202) 452-2955

NCUA: John Fairbanks — (703) 518-6336

OCC: Stephanie Collins — (202) 649-6870

The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces Federal consumer financial law and ensures that markets for consumer financial products are fair, transparent, and competitive. For more information, visit