Banking Agencies Propose Rule Amendments to Modernize Administrative Hearings

The Comptroller of the Currency, the Federal Reserve Board, the FDIC, and the National Credit Union Administration proposed rule amendments to update policies and procedures to allow increased use of electronic communications in administrative proceedings for supervised financial institutions.

The proposed amendments would update both the Uniform Rules of Practice and Procedure and the agency-specific local rules of administrative practice and procedure so that one set of rules applies to both national banks and Federal savings associations. The proposed rules changes would also address service of process.

Comments on the jointly proposed rule must be submitted to the Board within 60 days after its publication in the Federal Register.