The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is inviting public comments on the renewal of an information collection titled "Covered Savings Associations Notice." This action is part of the OCC's efforts to reduce paperwork and the burden on respondents. The collection involves Federal savings associations that choose to operate with the same rights and duties as national banks. The OCC seeks input on various aspects of this information collection, including its necessity, the accuracy of the burden estimates, and potential ways to reduce the burden on respondents.
Simple Explanation
The big boss of money rules in the U.S. is asking people what they think about a form that banks fill out when they want to change some of their special rules. They want to make sure the form is helpful and not too much work for banks to fill out.