Regulatory Alerts2020-11-13 | 2020-23529Branch Application Procedures
The Federal Deposit Insurance Corporation issued a final rule amending its branch application procedures to eliminate the mandatory compliance statements for the National Historic Preservation Act and the National Environmental Policy Act. By rescinding two related Statements of Policy and updating Title 12 regulations, the rule streamlines approval processes for insured state nonmember banks and foreign bank branches establishing or relocating domestic offices. This regulatory update aligns FDIC requirements with those of the Office of the Comptroller of the Currency and the Federal Reserve, thereby reducing administrative costs and removing a competitive disadvantage for affected institutions while preserving applicable state and local historic and environmental laws.