FOR IMMEDIATE RELEASE
May 18, 2015
Contact: Bryan Hubbard
OCC Releases Final Rule Integrating National Bank and Federal Savings Association Licensing Activities
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a final rule integrating policies and procedures for corporate activities and transactions of national banks and federal savings associations.
The rule eliminates unnecessary requirements, promotes fairness in supervision, and furthers the safe and sound operation of the institutions the OCC supervises. It also makes technical and conforming changes where appropriate to enable a provision to apply to national banks and federal savings associations, clarifies responsibilities of OCC licensing offices, updates the description of OCC supervision structure, and corrects contact information.
Because the timing and substance of the integration project overlaps with the decennial review of agency regulations required by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), OCC staff has considered comments received in response to EGRPRA notices and at EGRPRA outreach meetings. Changes made in response to comments aim to make the regulatory regime for both national banks and federal savings associations more efficient and streamlined where possible, consistent with safety and soundness. The agency is issuing this final licensing rule prior to the end of the EGRPRA process to allow the agency to complete the upgrade of its corporate application and tracking system and provide significant improvement to the process associated with licensing activities for national banks and federal savings associations without additional delay. The published Federal Register notice includes a detailed summary of changes made to the proposed rule in response to comments received by the agency.
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