Search Results for keywords:"OCC"

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Search Results: keywords:"OCC"

  • Type:Notice
    Citation:86 FR 9994
    Reading Time:about 9 minutes

    The Office of the Comptroller of the Currency (OCC) is requesting public comments on its renewal of the information collection related to "Debt Cancellation Contracts and Debt Suspension Agreements" as required by the Paperwork Reduction Act of 1995. The OCC is seeking feedback on the necessity and utility of the information collected, the accuracy of the burden estimate, and ways to reduce the collection burden on respondents. The comments should be submitted by April 19, 2021, and should include the agency name "OCC" and the identifier "1557-0224." This process ensures that the OCC complies with federal requirements and continues to properly manage the collection of information.

    Simple Explanation

    The government wants to know what people think about a rule they have for banks when they cancel or pause loans. They are asking for ideas on making the rule better and easier to follow.

  • Type:Notice
    Citation:90 FR 12032
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public comments on the renewal of an information collection effort titled, β€œInteragency Statement on Complex Structured Finance Transactions.” This initiative, required by the Paperwork Reduction Act of 1995, aims to reduce paperwork and burden on respondents by soliciting public feedback on the necessity and practicality of the information collected. The OCC invites comments by May 12, 2025, on aspects such as the collection’s utility, accuracy of burden estimates, ways to enhance the information quality, and methods to minimize respondent burden, including the use of technology. This notice marks the start of a 60-day comment period before the OCC will submit the collection for approval.

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants to know what people think about a set of rules that help manage tricky money deals. They are asking if these rules are useful and if there are easier ways to follow them, especially using computers. People have until May 12, 2025, to share their thoughts.

  • Type:Rule
    Citation:86 FR 1254
    Reading Time:about 9 minutes

    On December 11, 2020, the Office of the Comptroller of the Currency (OCC) published a final rule aimed at updating regulations for national banks and Federal savings associations to improve clarity, safety, and efficiency, while eliminating unnecessary requirements. A subsequent correcting amendment, effective January 11, 2021, addresses missing information and corrects three typographical errors within the final rule. These technical changes do not alter the substance of the regulations and were implemented without requiring the usual public notice and comment process, based on the OCC's determination that such steps were unnecessary. The OCC also ensured that the rule would take effect promptly, waiving typical delays because the changes increase compliance flexibility and reduce burdens for regulated institutions.

    Simple Explanation

    The people in charge of banks made some small fixes to their rules to make them clearer and easier to follow, like fixing typos in a book so the story makes more sense, and they did this quickly so banks could follow the new rules sooner.

  • Type:Notice
    Citation:86 FR 7456
    Reading Time:about 7 minutes

    The Office of the Comptroller of the Currency (OCC) is inviting public and federal agency comments on a proposed revision to an information collection requirement under the Paperwork Reduction Act. This involves updating reporting requirements for national banks and federal savings associations, particularly those with assets of $250 billion or more, to align with stress test templates used by the Federal Reserve. The goal is to minimize the burden on these institutions while ensuring effective stress testing practices. Comments on the proposal are requested by March 29, 2021, and the OCC encourages electronic submissions.

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants to make sure big banks are ready for tough times without making them fill out too much paperwork. They're asking people to share their thoughts on how to do this better by March 29, 2021.

  • Type:Notice
    Citation:86 FR 2032
    Reading Time:about 6 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking comments from the public and other federal agencies on renewing an information collection. This collection is required under the Paperwork Reduction Act and includes various Consumer Financial Protection Bureau regulations and the Federal Reserve System's Regulation CC. The OCC wants feedback on the necessity and utility of collecting this information, ways to improve its quality and clarity, and how to reduce the burden on respondents. Comments are due by February 10, 2021, and can be submitted via email, mail, or fax.

    Simple Explanation

    The government wants to hear what people think about some rules that help keep money stuff fair, and they want ideas on how to make it easier and less time-consuming for people to share their thoughts.

  • Type:Notice
    Citation:90 FR 8735
    Reading Time:about 5 minutes

    The Office of the Comptroller of the Currency (OCC) seeks public comments on renewing its information collection titled "Computer-Security Incident Notification." This information gathering is part of an ongoing effort to minimize paperwork and reduce respondent burden in line with the Paperwork Reduction Act of 1995. The OCC requires banking organizations to inform them within 36 hours of a significant computer-security incident that disrupts their operations. Comments on this proposal can be submitted until March 3, 2025.

    Simple Explanation

    The OCC wants to hear what people think about their rule that banks must tell them quickly if something bad happens to their computers that makes the bank stop working well. They want to make sure it takes as little time and work as possible to do this, and people have until March 3, 2025, to share their thoughts.

  • Type:Notice
    Citation:86 FR 9571
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is requesting comments from the public and other federal agencies on renewing an information collection known as the "Bank Appeals Follow-Up Questionnaire." This is part of a broader effort to reduce paperwork and respondent burden under the Paperwork Reduction Act of 1995 (PRA). The information gathered will assess the effectiveness of the OCC's appeals process for banks and help improve it. Comments on the need, accuracy, and potential improvements of this information collection are invited, and they must be submitted by April 19, 2021.

    Simple Explanation

    The OCC is asking people to share their thoughts on a form called the "Bank Appeals Follow-Up Questionnaire," which helps them figure out if their bank appeal process is working well. They're doing this to make sure it's as easy and quick as possible, and you can send in your thoughts by April 19, 2021.

  • Type:Notice
    Citation:90 FR 14320
    Reading Time:about 5 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public comments on renewing its information collection regarding leasing, as mandated by the Paperwork Reduction Act of 1995 (PRA). This renewal is necessary for the OCC to obtain approval from the Office of Management and Budget (OMB) for information collection activities. Businesses or other profit organizations are the affected public, with an estimated annual burden of 300 hours across 30 respondents. Comments are invited on various aspects of this information collection, including its necessity, accuracy, and ways to minimize the burden on respondents.

    Simple Explanation

    The government wants to hear people's thoughts about rules for businesses that rent things out, like cars or tools, to make sure they aren't filling out too much paperwork. They are asking if these rules are needed and how they can make things easier for the businesses.

  • Type:Notice
    Citation:90 FR 16768
    Reading Time:about 5 minutes

    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.

  • Type:Rule
    Citation:86 FR 9253
    Reading Time:about 40 minutes

    The Office of the Comptroller of the Currency (OCC) adopted a final rule to codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued in 2018 along with the Federal Reserve, FDIC, NCUA, and the Bureau of Consumer Financial Protection. This rule emphasizes that supervisory guidance, unlike laws or regulations, does not have legal force and doesn't create legally binding obligations for the public. The rule aims to ensure that the OCC will follow the principles of administrative law and use guidance to support transparency and consistency in the supervision of banks. The final rule takes effect on March 15, 2021, and assures that supervisory guidance will continue to be a valuable tool without being enforceable like laws.

    Simple Explanation

    The OCC made a rule to say that their guide for banks is just advice and not something they have to do like a law. This helps make sure everyone knows the rules are fair and clear.

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