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Inactive Financial Institution Letters

Effort To Reduce Regulatory Burden

January 22, 2004

SUBJECT: Recommendations Sought to Reduce Regulatory Burden From Lending-Related Consumer Protection Rules
Summary: The banking agencies are seeking comment on ways to reduce regulatory burden from consumer protection rules. We would like to hear about any lending-related consumer protection rules that you believe are outdated, unnecessary or unduly burdensome. This request is the second in a series of requests for comment on regulatory burden issues. Comments and/or suggestions on these particular rules are due to the agencies by April 20, 2004.

The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) are looking for ways to reduce unnecessary burden on insured depository institutions. The agencies are undertaking this effort in accordance with the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).

We are seeking your help in this effort by asking you to review rules in various categories and identify any provisions that you believe are outdated, unnecessary or unduly burdensome. We are currently seeking comments on the lending-related consumer protection rules. The rules in that category, as well as more information about our efforts to reduce regulatory burden, are included in the attached Federal Register notice.

Comments on the rules under review are due by April 20, 2004. You may submit your comments directly to the agencies on the EGRPRPA Web site at or you may send your comments to the addresses listed in the attached Federal Register notice.

Working together, I am confident that we can reduce unnecessary regulatory burden by finding ways to regulate that are more intelligent, more efficient and less burdensome for all insured institutions. For more information about this interagency regulatory burden reduction project, please visit or contact Claude A. Rollin of my staff at (202) 898-8741.

  John M. Reich
  Vice Chairman

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Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC’s Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).

Last Updated 1/6/2009

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