On 4 June 2014, the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation ("FDIC") and the Board of Governors of the Federal Reserve System ("Federal Reserve Board") issued a notice seeking comment on regulations from three categories: Applications and Reporting; Powers and Activities, and International Operations. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 ("EGRPRA") requires that federal agencies review regulations issued by the agencies at least every 10 years and also requires that the agencies categorize the regulations and publish the regulations for public comment and to identify areas in such regulations that are outdated, unncessary or unduly burdensome. The public will have until 2 September 2014 to review and comment on this first set of categories. The agencies plan to schedule roundtable discussions with bankers and interested parties and will publish details about these sessions on the EGRPRA website as they are finalized.
The full text of the federal register notice is available at:
http://www.fdic.gov/news/news/press/2014/pr14043a.pdf.
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