OCC Proposes Rule to Integrate National Banks and Federal Savings Association Rules

The Office of the Comptroller of the Currency ("OCC") issued a Notice of Proposed Rulemaking ("NPRM") to integrate rules for national banks and Federal savings associations relating to policies and procedures for corporate activities and transactions. Prior to the enactment of Dodd-Frank, the OCC had regulatory oversight of national banks while the Office of Thrift Supervision ("OTS") regulated Federal savings associations. Dodd-Frank eliminated the OTS and gave the OCC regulatory authority over Federal savings associations. The NPRM is part of the OCC's ongoing effort to consolidate rules governing Federal savings associations with the OCC's rules governing national banks.