ICBA and the Bank Policy Institute urged the OCC to implement a 30-day extension of the comment period for its proposed rule on national bank chartering.
Joint Letter: In a letter to the agency, the groups said the period is insufficient to fully consider the potential scope of the proposal’s implications for the banking system and more time is needed to field comments from community banks.
Background: The OCC last week proposed a rule to allow national banks to engage in non-fiduciary activities in addition to their fiduciary activities.