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Of Mutual Interest

Of Mutual Interest

A compilation of Mutual, Thrift and Federal Savings Association news

  Sept. 6, 2012

OCC-OTS Merger Continues To Affect Mutuals

While the Office of Thrift Supervision is long gone, the extinct agency’s merger with the Office of the Comptroller of the Currency continues to affect mutual savings associations. The OCC recently released a list of documents it has rescinded as part of its effort to integrate national bank and thrift guidelines. The list includes the rescinded documents and any documents that supersede them.

The list also describes why each document was rescinded. They could have been outdated, replaced with other guidance, incorporated into a Comptroller’s Handbook booklet, or merely a cover letter for another document.

The announcement is part of the process to integrate OCC and OTS rules, regulations and guidance into a common set of supervisory policies for national banks and federal savings associations. As mandated by the Wall Street Reform Act, the OCC last year assumed the responsibility for the supervision, examination and regulation of federal savings associations. ICBA will continue to monitor the process and its impact on mutuals and other community banks.

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