Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort to Reduce Regulatory Burden

WASHINGTON – The federal bank regulatory agencies today announced their fourth notice requesting public comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act requires the agencies to review their regulations at least once every 10 years to identify outdated, unnecessary, or unduly burdensome regulatory requirements for their supervised institutions. 

To facilitate this review, the agencies divided their regulations into 12 categories and are now soliciting comments on their regulations for the three remaining categories: Banking Operations, Capital, and the Community Reinvestment Act. The public has 90 days from publication in the Federal Register to comment on the relevant regulations.

The agencies will hold outreach meetings where interested parties may comment on applicable regulatory requirements directly to the agencies. Information about the outreach meetings will be publicized as details are finalized.