The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
News & Insights
The OCC adopted a final rule amending its regulations that require suspicious activity reports to clarify the agency's limited authority to issue exemptions to national banks and federal savings associations.
The OCC "true lender rule" was removed from the Code of Federal Regulations, effective immediately.
President Joe Biden signed into effect the Senate and House of Representatives' joint disapproval of the Office of the Comptroller of the Currency’s "true lender rule." The action finalized repeal of the rule under the Congressional Review Act.
A joint Federal Reserve Board, OCC and FDIC interim final rule went into effect relieving community banks impacted by COVID-19 policy responses from the regulatory requirements applicable to institutions with over $10 billion in assets.