FDIC Proposed Rule: Removal of Transferred Office of Thrift Supervision Regulations Regarding Prompt Corrective Action Directives, Conforming Amendments to Other Regulations

WASHINGTON, Sept. 28 -- The Federal Deposit Insurance Corporation has issued a proposed rule (12 CFR Part 308 and 12 CFR Part 390), published in the Federal Register, entitled: "Removal of Transferred OTS Regulations Regarding Prompt Corrective Action Directives and Conforming Amendments to Other Regulations".

The proposed rule was issued by James P. Sheesley, Acting Assistant Executive Secretary.

DATES: Comments must be received on or before October 28, 2020.

ADDRESSES:

You may submit comments, identified by RIN 3064-AF38, by any of the following methods:

* FDIC Website: https://www.fdic.gov/regulations/laws/federal/. Follow instructions for submitting comments on the agency website.

* Email: [email protected]. Include RIN 3064-AF38 on the subject line of the message.

* Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.

* Hand Delivery to FDIC: Comments may be hand-delivered to the guard station at the rear of the 550 17th Street NW building (located on F Street) on business days between 7 a.m. and 5 p.m.

* Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments.

Please include your name, affiliation, address, email address, and telephone number(s) in your comment. All statements received, including attachments and other supporting materials, are part of the public record and are subject to public disclosure. You should submit only information that you wish to make publicly available.

Please note: all comments received will be posted generally without change to https://www.fdic.gov/regulations/laws/federal/, including any personal information provided.

FOR FURTHER INFORMATION CONTACT: Robert Watkins, Review Examiner, Division of Risk Management Supervision, (202) 898-3865; Andrea Winkler, Acting Assistant General Counsel, Legal Division, (202) 898-3727; or Kristine Schmidt, Counsel, Legal Division, (202) 898-6686, [email protected].

* * *

In order to streamline FDIC regulations, the FDIC proposes to rescind and remove from the Code of Federal Regulations rules entitled "Prompt Corrective Action" that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), and amend certain sections of existing FDIC regulations governing the issuance and review of orders pursuant to the prompt corrective action provisions of the Federal Deposit Insurance Act to make it clear that such rules apply to all insured depository institutions for which the FDIC is the appropriate Federal banking agency.

SUPPLEMENTARY INFORMATION:

I. Policy Objectives

The policy objective of the rule is to remove unnecessary and duplicative regulations in order to simplify them and improve the public's understanding of them. Part 390, subpart Y outlines administrative procedures related to prompt corrective action that are equivalent to procedures outlined in part 308, subpart Q of the FDIC's existing regulations. Thus, the FDIC is proposing to rescind the regulations in part 390, subpart Y and reserve the subpart for future use. In addition, the proposal would amend certain sections of part 308, subpart Q of the FDIC's existing regulations on the issuance and review of orders pursuant to the prompt corrective action provisions of the Federal Deposit Insurance Act to make it clear that part 308, subpart Q, applies to all insured depository institutions for which the FDIC is the appropriate Federal banking agency.

II. Background

Part 390, subpart Y, was included in the regulations that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of applicable provisions of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).[1]

A. The Dodd-Frank Act

As of July 21, 2011, the transfer date established by section 311 of the Dodd-Frank Act,[2] the powers, duties, and functions formerly performed by the OTS were divided among the FDIC, as to State savings associations, the Office of the Comptroller of the Currency (OCC), as to Federal savings associations, and the Board of Governors of the Federal Reserve System (FRB), as to savings and loan holding companies. Section 316(b) of the Dodd-Frank Act[3] provides the manner of treatment for all orders, resolutions, determinations, regulations, and other advisory materials that had been issued, made, prescribed, or allowed to become effective by the OTS. The section provides that if such materials were in effect on the day before the transfer date, they continue in effect and are enforceable by or against the appropriate successor agency until they are modified, terminated, set aside, or superseded in accordance with applicable law by such successor agency, by any court of competent jurisdiction, or by operation of law.

Pursuant to section 316(c) of the Dodd-Frank Act,[4] on June 14, 2011, the FDIC's Board of Directors (Board) approved a "List of OTS Regulations to be Enforced by the OCC and the FDIC Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act." This list was published by the FDIC and the OCC as a Joint Notice in the Federal Register on July 6, 2011.[5]

Although section 312(b)(2)(B)(i)(II) of the Dodd-Frank Act[6] granted the OCC rulemaking authority relating to both State and Federal savings associations, nothing in the Dodd-Frank Act affected the FDIC's existing authority to issue regulations under the Federal Deposit Insurance Act (FDI Act)[7] and other laws as the "appropriate Federal banking agency" or under similar statutory terminology. Section 312(c)(1) of the Dodd-Frank Act[8] revised the definition of "appropriate Federal banking agency" contained in section 3(q) of the FDI Act,[9] to add State savings associations to the list of entities for which the FDIC is designated as the "appropriate Federal banking agency." As a result, when the FDIC acts as the appropriate Federal banking agency (or under similar terminology) for State savings associations, as it does here, the FDIC is authorized to issue, modify, and rescind regulations involving such associations, as well as for State nonmember banks and insured State-licensed branches of foreign banks.

As noted above, on June 14, 2011, operating pursuant to this authority, the Board issued a list of regulations of the former OTS that the FDIC would enforce with respect to State savings associations. On that same date, the Board reissued and redesignated certain regulations transferred from the former OTS. These transferred OTS regulations were published as new FDIC regulations in the Federal Register on August 5, 2011.[10] When the FDIC republished the transferred OTS regulations as new FDIC regulations, it specifically noted that its staff would evaluate the transferred OTS rules and might later recommend incorporating the transferred OTS regulations into other FDIC regulations, amending them, or rescinding them, as appropriate.[11]

B. Transferred OTS Regulations (Transferred to the FDIC's Part 390, Subpart Y)

A subset of the regulations transferred to the FDIC from the OTS concern prompt corrective action provisions applicable to State savings associations. The OTS regulations, formerly found at 12 CFR part 565, Sections 565.7, 565.8, 565.9 and 565.10, were transferred to the FDIC with only nomenclature changes and now comprise part 390, subpart Y. Each provision of part 390, subpart Y is discussed in Part III of this SUPPLEMENTARY INFORMATION section, below. The FDIC has conducted a careful review and comparison of part 390, subpart Y. As discussed in Part III of this SUPPLEMENTARY INFORMATION section, the FDIC proposes to rescind part 390, subpart Y because the FDIC considers the provisions related to State savings associations contained in part 390, subpart Y substantially similar to similar regulations related to state non-member banks. The FDIC proposes combining the regulations to make clear the same procedures apply to all FDIC-supervised institutions.

C. Part 308, Subpart Q, Issuance and Review of Orders Pursuant to the Prompt Corrective Action Provisions of the Federal Deposit Insurance Act

The FDIC proposes to further clarify the administrative procedures relevant to State savings associations by amending certain parts of part 308 of the FDIC's regulations to clarify that part 308, subpart Q applies to all insured depository institutions, including State savings associations, for which the FDIC is the appropriate Federal banking agency. As discussed in Part III of this SUPPLEMENTARY INFORMATION section, the FDIC proposes to amend part 308, subpart Q in order to make part 308, subpart Q applicable to all insured depository institutions, including State savings associations, for which the FDIC is the appropriate Federal banking agency.

III. Proposed Regulation Changes

After careful review, the FDIC has concluded that the retention of part 390, subpart Y is unnecessary and that rescission of subpart Y in its entirety would streamline the FDIC rules and regulations. The regulations related to State savings associations will be incorporated into the part 308, subpart Q as described below. Part 390, subpart Y also references savings and loan holding companies. When the regulation was transferred from the OTS, the references to "any company that controls the State savings association" were not deleted with the other technical amendments. The FDIC is not the appropriate successor agency for supervision of savings and loan holding companies. Under the Dodd-Frank Act, supervision of savings and loan holding companies was transferred to the Federal Reserve Board.[12] The provisions in the FDIC regulations relating to "any company that controls the State savings association" will therefore be set aside and not incorporated into the existing FDIC regulations at part 308, subpart Q addressing FDIC-supervised institutions.

Consistent with its legal authority to issue and modify regulations as the appropriate Federal banking agency under section 3(q) of the Federal Deposit Insurance Act, the FDIC also proposes to amend and revise provisions of part 308, subpart Q to clarify and state explicitly the regulations apply to all FDIC-supervised institutions.

A. Comparison of FDIC Regulations With the Transferred OTS Regulations To Be Rescinded

12 CFR 390.456--Directives to take prompt corrective action.

Section 390.456 describes the administrative procedures for the FDIC to issue a directive to take prompt corrective action against a State savings association. These administrative procedures were initially found at 12 CFR 565.7 and are equivalent to the administrative procedures relating to FDIC-supervised banks found at 12 CFR 308.201.

The FDIC proposes that Section 390.456 be rescinded in its entirety. The proposed amendments to subpart Q will clarify in a single location that the regulations apply to all FDIC-supervised institutions. Therefore, it is not necessary to have a regulation specifically applicable to State savings associations.

12 CFR 390.457--Procedures for reclassifying a State savings association based on criteria other than capital.

Section 390.457 describes the administrative procedures to reclassify a State savings association based on criteria other than capital. This section describes how the FDIC may consider other unsafe or unsound practices to lower a State saving association capital category under part 324. The section also details the procedures for notifying the State saving association and contesting the determination. These administrative procedures were initially found at 12 CFR 565.8 and were recently modified to account for changes made to part 324.[13] Section 390.457 is equivalent to the administrative procedures relating to FDIC-supervised banks found at 12 CFR 308.202.

The FDIC proposes that Section 390.457 be rescinded in its entirety. The proposed amendments to subpart Q will clarify in a single location that the regulations apply to all FDIC-supervised institutions. Therefore, it is not necessary to have a regulation specifically applicable to State savings associations.

12 CFR 390.458--Order to dismiss a director or senior executive officer.

Section 390.458 describes the additional administrative procedures related to prompt corrective action directives that require the State savings association to terminate the employment of a director or officer. This section also includes provisions to challenge this type of prompt corrective order directive. These administrative procedures were initially found at 12 CFR 565.9. Section 390.458 is equivalent to the administrative procedures relating to FDIC-supervised banks found at 12 CFR 308.203.

The FDIC proposes that Section 390.458 be rescinded in its entirety. The proposed amendments to subpart Q will clarify in a single location that the regulations apply to all FDIC-supervised institutions. Therefore, it is not necessary to have a regulation specifically applicable to State savings associations.

12 CFR 390.459--Enforcement of directives.

Section 390.459 describes the additional remedies the FDIC may take to seek compliance with prompt corrective action directives. These procedures were initially found at 12 CFR 565.10. Section 390.459 is equivalent to the administrative procedures relating to FDIC-supervised banks found at 12 CFR 308.204.

The FDIC proposes that Section 390.459 be rescinded in its entirety. The proposed amendments to subpart Q will clarify in a single location that the regulations apply to all FDIC-supervised institutions. Therefore, it is not necessary to have a regulation specifically applicable to State savings associations.

B. Proposed Changes to FDIC Regulations

As discussed in part III of this SUPPLEMENTARY INFORMATION, the FDIC's part 308, subpart Q addresses the administrative procedures related to the issuance and enforcement of prompt corrective action directives. The Dodd-Frank Act added State savings associations to the list of entities for which the FDIC is designated as the appropriate Federal banking agency.[14] To clarify that part 308, subpart Q applies to all institutions for which the FDIC is the appropriate Federal banking agency, the FDIC proposes to amend Sections 308.200 through 308.204 to replace the phrases "banks" and "insured branches of foreign banks" throughout subpart Q with the phrase "FDIC-supervised institution." Under the proposal, Section 308.200 would be revised to add the definition of the term "FDIC-supervised institution" to mean any insured depository institution for which the FDIC is the appropriate Federal banking agency pursuant to section 3(q) of the FDI Act.[15]

Additionally, the FDIC proposes one additional change to conform the FDIC's regulations relating to prompt corrective action directives that apply to banks and the former OTS regulations relating to State savings associations. Sections 308.202 and 390.457 describe the procedures relating to classifying an institution due to something other than capital. These two regulations differ in one respect. The FDIC regulation at 308.202(a)(6) provides that when a hearing is ordered, it will begin no later than 30 days from the date of the request unless the bank requests a later date. The former OTS version of this regulation, incorporated by the FDIC at Section 390.457, provides that the hearing should be ordered within 30 days of request unless the FDIC allows further time at the request of the State savings association. While both of these provisions demonstrate that a hearing is likely to be delayed at the request of the institution, the former OTS version of the regulation is written with greater clarity that the FDIC will evaluate and may then provide consent to the request. The OTS version of the regulation makes it clear that there is no automatic extension granted to the institution. The greater clarity in this language makes it the preferred choice when reconciling the two regulations into one regulation that applies to all FDIC-supervised institutions. The changes to this aspect of the regulation will provide greater clarity to those institutions going forward.

IV. Summary

If the proposal is finalized, 12 CFR part 390, subpart Y would be removed because it is largely unnecessary, redundant, or duplicative of existing FDIC regulations, and the requirements of part 308, subpart Q expressly would apply to all FDIC-supervised insured depository institutions. These initiatives will serve to streamline the FDIC's regulations.

V. Expected Effects

As explained in detail in Section III of this SUPPLEMENTARY INFORMATION section, certain OTS regulations transferred to the FDIC by the Dodd-Frank Act relating to prompt corrective action directives are either unnecessary or effectively duplicate existing FDIC regulations. This proposal would eliminate those transferred OTS regulations. The proposal also would clarify that the standards in part 308, subpart Q apply to State savings associations because the FDIC is the "appropriate Federal banking agency" pursuant to the FDI Act. As of March 30, 2020, the FDIC supervised 3,309 depository institutions, of which 35 (1.1 percent) are State savings associations.[16] The proposed rule primarily would affect regulations that govern State savings associations.

As explained previously, the proposed rule would rescind 12 CFR part 390, subpart Y, which includes the following: Section 390.456, which outlines administrative procedures for issuing a directive to take prompt corrective action against a State savings association; Section 390.457, which outlines administrative procedures for reclassifying a State savings association based on criteria other than capital; Section 390.458, which outlines administrative procedures related to prompt corrective action that require a State savings association to terminate the employment of a director or officer; and Section 390.459, which outlines administrative procedures the FDIC may take to seek compliance with prompt corrective action directives. The FDIC has determined that these sections of 12 CFR part 390 are equivalent to regulations related to prompt corrective action in the FDIC's existing regulations. Therefore, the FDIC does not expect the removal of the regulations in subpart Y to significantly affect FDIC-supervised State savings associations.

The proposal would also amend the FDIC's regulations that establish administrative procedures for prompt corrective action in 12 CFR 308.200 through 308.204 to make them applicable to all FDIC-supervised institutions, including State savings associations. As discussed previously, these changes would not change the required procedures related to prompt corrective action that are applicable to State savings associations since the requirements in subpart Y are equivalent to requirements in the FDIC's existing regulations, therefore this aspect of the proposed rule is unlikely to substantively affect FDIC-supervised State savings associations.

Finally, the proposal would revise 12 CFR 308.202 to clarify the procedures for delaying a hearing if an institution is reclassified based on criteria other than capital. The FDIC's regulation currently states that if a hearing is scheduled, it will be held within 30 days of the request unless the institution requests a later date. The regulations in Section 390.457 state that a hearing will be held within 30 days of the request unless the FDIC allows further time at the request of the institution. The FDIC is proposing to adopt the language from Section 390.457 in its own regulations since Section 390.457 clarifies that requests for an extension will not be automatically granted. This aspect of the proposed rule will pose no change for the 35 FDIC-supervised State savings associations. The FDIC believes that adopting the language from Section 390.457 should further clarify for State nonmember institutions that requests for an extension will not automatically be granted, however, this change is unlikely to pose any substantive effects on State nonmember institutions.

Since the prompt corrective action directive provisions in Section 390 subpart Y are substantively similar to existing regulations for state nonmember banks found in Section 308, subpart Q, the FDIC does not believe that rescission of Sections 390.456 through 390.459 would have any substantive effects on FDIC-supervised State savings associations.

The FDIC invites comments on all aspects of this analysis. In particular, would the proposed rule have any costs or benefits to covered entities that the FDIC has not identified?

VI. Alternatives

The FDIC believes that the proposed amendments represent the most appropriate option for covered institutions and, at this time, has not identified significant alternatives to proposing the rule in its current form. As discussed previously, the Dodd-Frank Act transferred certain powers, duties, and functions formerly performed by the OTS to the FDIC. The FDIC's Board reissued and redesignated certain transferred regulations from the OTS but noted that it would evaluate them and might later incorporate them into other FDIC regulations, amend them, or rescind them, as appropriate. The FDIC has evaluated the existing regulations relating to prompt corrective actions, including part 308, subpart Q and part 390, subpart Y. The FDIC has available the status quo alternative of retaining the current regulations but is proposing not to do so because it would be needlessly duplicative for substantively similar regulations regarding prompt corrective action directives for banks and State savings associations to be located in different locations within the Code of Federal Regulations. The FDIC believes it would be redundant and potentially confusing for FDIC-supervised institutions to continue to refer to these separate sets of regulations. Therefore, the FDIC is proposing to amend and streamline the FDIC's regulations.

VII. Request for Comments

The FDIC invites comments on all aspects of this proposed rulemaking. In particular, the FDIC requests comments on the following questions:

1. Are the provisions of 12 CFR parts 308, subpart Q sufficient to provide consistent and effective requirements related to the issuance and review of orders pursuant to the prompt corrective action for all insured depository institutions for which the FDIC is the appropriate Federal banking agency? Please provide examples, data, or otherwise substantiate your answer.

2. What negative impacts, if any, can you foresee in the FDIC's proposal to rescind part 390, subpart Y and remove it from the Code of Federal Regulations? Please provide any other comments you have on the proposal.

VIII. Administrative Law Matters

A. The Paperwork Reduction Act

In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA),[17] the FDIC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number.

The proposed rule would rescind and remove from FDIC regulations part 390, subpart Y. With regard to part 308, subpart Q, the proposed rule would amend Sections 308.200 through 308.204 to clarify that State savings associations, as well as State nonmember banks and foreign banks having insured branches are all subject to part 308, subpart Q. The proposed rule will not create any new or revise any existing collections of information under the PRA. Therefore, no information collection request will be submitted to the OMB for review.

B. The Regulatory Flexibility Act

The Regulatory Flexibility Act (RFA), requires that, in connection with a notice of proposed rulemaking, an agency prepare and make available for public comment an initial regulatory flexibility analysis that describes the impact of the proposed rule on small entities.[18] However, a regulatory flexibility analysis is not required if the agency certifies that the rule will not have a significant economic impact on a substantial number of small entities and publishes its certification and a short explanatory statement in the Federal Register together with the rule. The Small Business Administration (SBA) has defined "small entities" to include banking organizations with total assets of less than or equal to $600 million.[19] Generally, the FDIC considers a significant effect to be a quantified effect in excess of 5 percent of total annual salaries and benefits per institution, or 2.5 percent of total noninterest expenses. The FDIC believes that effects in excess of these thresholds typically represent significant effects for FDIC-supervised institutions. For the reasons provided below, the FDIC certifies that the proposed rule would not have a significant economic impact on a substantial number of small entities. Accordingly, a regulatory flexibility analysis is not required.

As of March 31, 2020, the FDIC supervised 3,309 depository institutions,[20] of which 2,548 were considered small entities for the purposes of RFA.[21] There are 33 (1.3 percent) State savings associations that are small entities for the purposes of RFA.[22] As discussed previously, the proposed rule would rescind 12 CFR part 390, subpart Y, which includes the following: Section 390.456, which outlines administrative procedures for issuing a directive to take prompt corrective action against a State savings association; Section 390.457, which outlines administrative procedures for reclassifying a State savings association based on criteria other than capital; Section 390.458, which outlines administrative procedures related to prompt corrective action that require a State savings association to terminate the employment of a director or officer; and Section 390.459, which outlines administrative procedures the FDIC may take to seek compliance with prompt corrective action directives. The FDIC has determined that these sections of 12 CFR part 390 are equivalent to regulations related to prompt corrective action in the FDIC's existing regulations. Therefore, the FDIC does not expect the removal of the regulations in subpart Y to significantly affect small FDIC-supervised State savings associations.

The proposal would also amend the FDIC's regulations that establish administrative procedures for prompt corrective action in 12 CFR 308.200 through 308.204 to make them applicable to all FDIC-supervised institutions, including State savings associations. As discussed previously, these changes would not change the required procedures related to prompt corrective action that are applicable to small State savings associations since the requirements in subpart Y are equivalent to requirements in the FDIC's existing regulations.

Finally, the proposal would revise 12 CFR 308.202 to clarify the procedures for delaying a hearing if an institution is reclassified based on criteria other than capital. The FDIC's regulation currently states that if a hearing is scheduled, it will be held within 30 days of the request unless the institution requests a later date. The regulations in Section 390.457 state that a hearing will be held within 30 days of the request unless the FDIC allows further time at the request of the institution. The FDIC is proposing to adopt the language from Section 390.457 in its own regulations since Section 390.457 clarifies that requests for an extension will not be automatically granted. This aspect of the proposed rule will pose no change for the 33 small FDIC-supervised State savings associations. The FDIC believes that adopting the language from Section 390.457 should further clarify for small State nonmember institutions that requests for an extension will not automatically be granted; however, this change is unlikely to pose any substantive effects on small State nonmember institutions.

Since the prompt corrective action directive provisions in Section 390 subpart Y are substantively similar to existing regulations for state nonmember banks found in Section 308, subpart Q, the FDIC believes it is unlikely that that rescission of Sections 390.456 through 390.459 would have any substantive effects on small FDIC-supervised State savings associations.

Based on the information above, the FDIC certifies that the proposed rule would not have a significant economic impact on a substantial number of small entities.

The FDIC invites comments on all aspects of the supporting information provided in this section, and in particular, whether the proposed rule would have any significant effects on small entities that the FDIC has not identified.

C. Plain Language

Section 722 of the Gramm-Leach-Bliley Act[23] requires the Federal banking agencies to use plain language in all proposed and final rules published after January 1, 2000. The FDIC has sought to present the proposed rule in a simple and straightforward manner. The FDIC invites comments on whether the proposal is clearly stated and effectively organized and how the FDIC might make the proposal easier to understand.

D. The Economic Growth and Regulatory Paperwork Reduction Act

Under section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), the FDIC is required to review all of its regulations, at least once every 10 years, in order to identify any outdated or otherwise unnecessary regulations imposed on insured institutions.[24] The FDIC, along with the other Federal banking agencies, submitted a Joint Report to Congress on March 21, 2017 (EGRPRA Report) discussing how the review was conducted, what has been done to date to address regulatory burden, and further measures the FDIC will take to address issues that were identified.[25] As noted in the EGRPRA Report, the FDIC is continuing to streamline and clarify its regulations through the OTS rule integration process. By removing outdated or unnecessary regulations, such as part 390, subpart Y, this rule complements other actions that the FDIC has taken, separately and with the other Federal banking agencies, to further the EGRPRA mandate.

E. Riegle Community Development and Regulatory Improvement Act of 1994

Pursuant to section 302(a) of the Riegle Community Development and Regulatory Improvement Act (RCDRIA),[26] in determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions (IDIs), each Federal banking agency must consider, consistent with principles of safety and soundness and the public interest, any administrative burdens that such regulations would place on depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations. In addition, section 302(b) of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on IDIs generally to take effect on the first day of a calendar quarter that begins on or after the date on which the regulations are published in final form.[27] The FDIC invites comments that further will inform its consideration of RCDRIA.

List of Subjects

12 CFR Part 308

* Administrative practice and procedure

* Bank deposit insurance

* Banks

* Banking

* Claims

* Crime

* Equal access to justice

* Fraud

* Investigations

* Lawyers

* Penalties

12 CFR Part 390

* Administrative practice and procedure

* Advertising

* Aged

* Civil rights

* Conflict of interests

* Credit

* Crime

* Equal employment opportunity

* Fair housing

* Government employees

* Individuals with disabilities

* Reporting and recordkeeping requirements

* Savings associations

Federal Deposit Insurance Corporation.

By order of the Board of Directors.

Dated at Washington, DC, on August 21, 2020.

James P. Sheesley,

Acting Assistant Executive Secretary.

[FR Doc. 2020-18812 Filed 9-25-20; 8:45 am]

BILLING CODE 6714-01-P

The document is published in the Federal Register: https://www.federalregister.gov/documents/2020/09/28/2020-18812/removal-of-transferred-ots-regulations-regarding-prompt-corrective-action-directives-and-conforming

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