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The Federal Deposit Insurance Corporation (FDIC) has implemented a final rule to remove outdated and duplicative regulations related to "Prompt Corrective Action" that were inherited from the Office of Thrift Supervision (OTS).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.

The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a report to Congress. As of September 30, 2024, they found no major differences in the accounting and capital standards for the banks they oversee. While there are some minor differences concerning definitions and rules, these do not significantly affect the institutions. The report highlights how certain rules apply differently to specific banking groups due to legal and regulatory requirements.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to remove obsolete regulations related to subordinate organizations of State savings associations, which were originally transferred from the Office of Thrift Supervision (OTS) following the Dodd-Frank Act. These regulations, found in 12 CFR part 390, subpart O, were deemed unnecessary because their requirements are largely duplicated by other existing Federal Deposit Insurance Act (FDI Act) provisions. By removing these regulations, the FDIC aims to simplify its rules, making them easier for the public and State savings associations to understand and follow. The changes are set to take effect on March 5, 2021.