Regulatory Alerts2021-02-03 | 2020-28455Removal of Transferred OTS Regulations Regarding Prompt Corrective Action Directives and Conforming Amendments to Other Regulations
The Federal Deposit Insurance Corporation adopted a final rule rescinding transferred Office of Thrift Supervision regulations governing prompt corrective action directives for state savings associations. The agency concurrently amended existing Code of Federal Regulations provisions to explicitly apply those procedures to all FDIC-supervised insured depository institutions. By consolidating substantially similar rules and updating statutory terminology, the final rule streamlines regulatory oversight while preserving substantive compliance requirements.
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