OCC Scales Back Two Community Banking Regulations

The Office of the Comptroller of the Currency implemented two final rules aimed at reducing the regulatory burden for community banks.

• Rescinds Fair Housing home Loan Data System regulation, removing requirements for data collection requirements on application for home loans that only applied to national banks
  • Doesn’t have material impact on availability of necessary data for OCC to conduct fair housing-related activities since some data collection was duplicative
• Separate rule simplifies licensing requirements for corporate activities and transactions involving community banks
  • Broadens eligibility for expedited or reduced filing procedures to community banks
• NOTE, Oct. 6: Community Banks to See Lighter-Touch ...