Search Results for keywords:"state savings associations"

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Search Results: keywords:"state savings associations"

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  • 2021-01536 — Removal of Transferred OTS Regulations Regarding Definitions of Terms
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    Type:Proposed Rule
    Citation:86 FR 9028
    Reading Time:about 18 minutes

    The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule to simplify its regulations by removing outdated and unnecessary ones. This proposed rule focuses on eliminating certain definitions transferred from the Office of Thrift Supervision (OTS) that are no longer applicable because related regulations are being removed. The change would primarily affect a small number of state savings associations supervised by the FDIC and is not expected to have a significant impact on these institutions or the larger economy. The FDIC invites public comments on the proposed rule and its potential effects.

    Simple Explanation

    The FDIC wants to clean up some old rules that don't matter anymore, making things simpler for certain banks, and they are asking people what they think about this change.

  • 2020-28455 — Removal of Transferred OTS Regulations Regarding Prompt Corrective Action Directives and Conforming Amendments to Other Regulations
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    Type:Rule
    Citation:86 FR 8104
    Reading Time:about 40 minutes

    The Federal Deposit Insurance Corporation (FDIC) has implemented a final rule to remove outdated and duplicative regulations related to "Prompt Corrective Action" that were inherited from the Office of Thrift Supervision (OTS). The goal is to streamline regulations and ensure clarity by consolidating these rules into existing FDIC regulations. This change affects state savings associations, making it clear that all FDIC-supervised institutions will follow the same regulations. These adjustments are not expected to have substantial impacts on small entities, as the rules remain consistent with existing FDIC standards.

    Simple Explanation

    The FDIC has decided to clean up old rules from another agency to make things simpler, so now all banks they watch over will follow the same rules, kind of like having the same bedtime rules for all kids in the house.