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Wednesday, October 28, 2015

FDIC Consolidates Change in Bank Control Requirements

The FDIC is finalizing a rule to consolidate its notice requirements when non-Fed-member state banks and state thrifts experience a change in control in a single subpart of the agency’s regulations. The rule also aligns the FDIC’s requirements with “best practices” from the OCC and the Federal Reserve.

The final rule transfers a rebuttable presumption of control from the Change in Bank Control Act while adding a rebuttable presumption of acting in concert, consistent with Federal Reserve regulations.

Read the final rule.

The FDIC is also rescinding certain rules that had been transferred to the agency after the closure of the Office of Thrift Supervision. The rules, which have been consolidated with FDIC guidance, cover fair credit reporting and safety and soundness. The FDIC also rescinded regulations implementing the now-expired, financial crisis-era Temporary Liquidity Guarantee Program.

View the rescinded rules.

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