Regulatory Alerts2019-10-09 | 2019-21966Added · Updated
Removal of Transferred OTS Regulations Regarding Reporting Requirements, Regulatory Reports and Audits of State Savings Associations
The Federal Deposit Insurance Corporation issued a supplemental notice of proposed rulemaking to rescind and remove 12 CFR part 390, subpart R, which contains redundant regulatory reporting standards for state savings associations. The agency supplemented its initial proposal with an updated regulatory flexibility analysis to correct typographical errors and reaffirm that the rule will not have a significant economic impact on a substantial number of small entities. The FDIC certifies that removing these unnecessary regulations imposes no substantive effects on small supervised institutions and invites public comments on the analysis by November 8, 2019.
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