Regulatory Alerts2020-10-15 | 2020-21000Removal of Transferred OTS Regulations Regarding Application Processing Procedures of State Savings Associations
The Federal Deposit Insurance Corporation proposes to rescind and remove 12 CFR part 390, subpart F, which contains application processing procedures for State savings associations originally transferred from the Office of Thrift Supervision. The FDIC determined these regulations are unnecessary and duplicative of existing provisions in 12 CFR part 303, aiming to simplify rules and promote parity with State nonmember banks. Concurrently, the agency proposes technical changes to part 303 to ensure its filing procedures explicitly apply to State savings associations.
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