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OCC Bulletin 2024-5
February 6, 2024
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Chief Executive Officers of National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
On February 6, 2024, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) published in the Federal Register their first notice requesting comment on their regulations pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). EGRPRA requires the agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations applicable to insured depository institutions. To facilitate this review, the agencies divided their regulations into 12 subject-matter categories and identified the regulations in each category. This notice requests comments on agency regulations in the Applications and Reporting, Powers and Activities, and International Operations categories. Comments on these rules are due May 6.
Over the next two years, the agencies will publish three more Federal Register notices, each addressing one or more categories, and ask members of the public to identify the regulations in each category that they believe are outdated, unnecessary, or unduly burdensome for insured depository institutions. The agencies will also hold a series of outreach meetings to provide interested parties with an opportunity to comment on regulatory burden reduction directly to staff members and senior management of the agencies. More information about these outreach meetings will be available soon.
Community bankers are encouraged to identify regulations that are outdated, unnecessary, or unduly burdensome to community banks.
Please contact Allison Hester-Haddad, Special Counsel, Daniel Amodeo, Counsel, or John Cooper, Counsel, Chief Counsel’s Office at (202) 649-5490.
Benjamin W. McDonough
Senior Deputy Comptroller and Chief Counsel