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OCC Bulletin 2020-100
November 16, 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) has issued a final rule 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 final rule updates and clarifies these licensing policies and procedures, eliminates unnecessary requirements consistent with safety and soundness, and makes other technical and conforming changes.
The amendments in this final rule apply to all national banks and FSAs, including community institutions.
This final rule makes 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The OCC periodically reviews its regulations to eliminate outdated or otherwise unnecessary regulatory provisions and to clarify or revise requirements imposed on national banks and FSAs where possible and when not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 final rule, originally published in the Federal Register as a proposal on May 2, 2020, and finalized with changes based on public comments received, 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 proposal for revisions to 12 CFR 7, “Activities and Operations.”
Please contact Karen Marcotte, Director for Licensing Activities, (202) 649-6260; or Christopher A. Crawford, Counsel, Heidi M. Thomas, Special Counsel, Valerie M. Song, Assistant Director, or Rima G. Kundnani, Senior Attorney, Chief Counsel’s Office, (202) 649-5490.
Jonathan V. Gould
Senior Deputy Comptroller and Chief Counsel