Washington Report 360 | February 25, 2022

Sanctions on Russia; Multiple actions related to fairness

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • Sanctions. In two separate announcements, the U.S. Treasury outlined sanctions against Russian financial institutions, sovereign debt, and Kremlin “elites,” as well as restrictions on economic activity in two regions of Ukraine. The Administration has indicated that more actions could be implemented.
  • Fairness. Multiple actions: CFPB published a SBREFA document on options to ensure automated valuation models are more accurate and fair. The House Financial Services Committee alerted HUD to its intent to convene hearings and introduce legislation directed at “systemic appraisal discrimination.” Eight regulatory agencies issued a joint bulletin on the permissibility of special purpose credit programs to meet the needs of an economically disadvantaged class of persons or special social needs under the ECOA and Regulation B.

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