Economic Growth and Regulatory Paperwork Reduction Act of 1996: Regulatory Review to Identify Outdated, Unnecessary, or Unduly Burdensome Regulations

Summary

On December 11, 2024, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) published in the Federal Register their third notice requesting comment on their regulations pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). EGRPRA requires the agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations applicable to insured depository institutions. To facilitate this review, the agencies divided their regulations into 12 subject-matter categories and identified the regulations in each category. This notice requests comments on agency regulations in the Rules of Procedure, Safety and Soundness, and Securities categories. Comments on these rules are due March 11, 2025.

The agencies will publish one more Federal Register notice in 2025 addressing the remaining categories of regulations and ask members of the public to identify the regulations in each category that they believe are outdated, unnecessary, or unduly burdensome for insured depository institutions. The agencies will also hold additional outreach meetings to provide interested parties with an opportunity to comment on regulatory burden reduction directly to staff members and senior management of the agencies. More information about these future outreach meetings will be available soon.

Highlights

• The agencies are soliciting comments on their regulations related to Rules of Procedure, Safety and Soundness, and Securities.
• Comments may be submitted through the agencies’ EGRPRA website, http://egrpra.ffiec.gov. Additional methods of commenting are discussed in the Federal Register notice.
• To aid commenters, the notice includes a chart identifying the rules on which the agencies are currently seeking comment.
• This notice provides a 90-day comment period, with comments due March 11, 2025.

Further Information

Please contact Allison Hester-Haddad, Special Counsel, Daniel Amodeo, Counsel, or John Cooper, Counsel, Chief Counsel’s Office, at (202) 649-5490.

Theodore J. Dowd II
Acting Senior Deputy Comptroller and Chief Counsel

Related Link

• Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (PDF)