Agencies officially launch final round of feedback on reg burden under EGRPRA review

The OCC, FDIC, and Federal Reserve published in the Federal Register their fourth notice requesting comment on their regulations pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996.

Background: EGRPRA requires the federal banking agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations.

What it Means for Community Bankers: Under the fourth and final comment period of the current EGRPRA review, the agencies are seeking comments on banking operations, capital, and the Community Reinvestment Act. The public has 90 days from publication in the Federal Register to comment on the relevant regulations.

Outreach Meetings: The agencies also said they will hold outreach meetings where interested parties may comment on applicable regulatory requirements directly to the agencies. Information about the outreach meetings will be publicized as details are finalized.

Ongoing ICBA Advocacy: In its previous comments to the agencies under the current EGRPRA review, ICBA has led community bank grassroots advocacy campaigns and submitted letters calling on federal regulators to fast-track repeals of harmful and burdensome rules, commended the agencies for hosting an ICBA-advocated virtual community banker outreach meeting, and urged regulators to take meaningful action to address excessive regulatory burdens.