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OCC Bulletin 2020-12
March 6, 2020
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency (OCC) is proposing to amend its rules relating to policies and procedures for corporate activities and transactions involving national banks and federal savings associations (FSA), codified at 12 CFR 5. Specifically, the proposal would update and clarify the policies and procedures, eliminate unnecessary requirements consistent with safety and soundness, and make other technical and conforming changes. The proposed rule has a 60-day comment period, ending on May 4, 2020.
The amendments proposed by this notice of proposed rulemaking would apply to all national banks and federal savings associations, including community institutions.
This notice of proposed rulemaking would propose the following changes, among others:
The OCC periodically reviews its regulations to eliminate outdated or otherwise unnecessary regulatory provisions and to clarify or revise requirements imposed on national banks and FSAs where possible and when not inconsistent with bank safety and soundness. These reviews are in addition to the OCC's decennial review of its regulations as required by the Economic Growth and Regulatory Paperwork Reduction Act (Pub. L 104-208 (1996)). This proposed rule is a continuation of the OCC's regulatory review process. It accompanies other OCC efforts to modernize OCC rules, remove unnecessary burden, and clarify requirements, including a planned proposal for revisions to 12 CFR 7, "Activities and Operations," and a planned advance notice of proposed rulemaking that would request comment on revising the OCC's rules on electronic banking activities.
Please contact Karen Marcotte, Director for Licensing Activities, (202) 649-6260; or Christopher A. Crawford, Counsel, Heidi M. Thomas, Special Counsel, or Valerie M. Song, Assistant Director, Chief Counsel's Office, (202) 649-5490.
Jonathan V. Gould
Senior Deputy Comptroller and Chief Counsel