The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is seeking public comments on an information collection titled "Covered Savings Associations Notice," in line with the Paperwork Reduction Act (PRA). This notice aims to reduce paperwork and ensure efficiency by renewing procedures that allow certain Federal savings associations to operate with the same rights as national banks. Comments on the proposal should be submitted by April 14, 2025, and will be considered in the final decision process. The OCC is particularly interested in feedback on the necessity, clarity, and burden of the information collection.
Simple Explanation
The OCC wants to hear what people think about how some savings banks can have the same rules as big banks, and they're asking everyone to share their thoughts by April 14, 2025. They want to know if the information they ask for is easy to understand and not too much work for the banks.