The Office of the Comptroller of the Currency (OCC) released a final rule integrating policies and procedures for corporate activities and transactions of national banks and federal savings associations.
The Dodd-Frank Wall Street Reform and Consumer Protection Act transferred the former Office of Thrift Supervision’s functions relating to Federal savings associations to the OCC. Therefore, the OCC has been responsible for ongoing examination, supervision and regulation of Federal savings associations. Prior to issuing this final rule, the OCC had been maintaining one set of rules applicable to national banks and another set of rules for Federal savings associations. The rule eliminates unnecessary requirements, promotes fairness in supervision, and furthers the safe and sound operation of the institutions the OCC supervises.
Read more in the Federal Register.