The OCC announced two final ICBA-supported rules to reduce the regulatory burden for community banks.
Details: The OCC final rules:
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Rescind its Fair Housing Home Loan Data System regulation, removing obsolete and largely duplicative data collection requirements on applications for home loans that applied only to national banks.
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Simplify licensing requirements for corporate activities and transactions involving community banks.
Background: The OCC in October announced several ICBA-supported efforts to reduce regulatory burden for community banks.
ICBA View: In a national news release following the announcement, ICBA President and CEO Rebeca Romero Rainey commended the OCC for taking meaningful steps to reduce unnecessary regulatory burdens on community banks.