Fed hosting EGRPRA outreach meeting next month

The Federal Reserve announced it will hold a public outreach meeting next month as part of its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act.

Details: The Fed said:

• The hybrid meeting slated for Thursday, March 26, is an opportunity for interested stakeholders to present their views on applications and reporting; powers and activities; international operations; consumer protection; directors, officers and employees; money laundering; rules of procedure; safety and soundness; securities; banking operations; capital; and the Community Reinvestment Act.

• Individuals interested in providing oral comments, either virtually or in person, must register by March 19.

• The meeting will take place at the Federal Reserve Board building in Washington, D.C., and will be livestreamed online.

Background: EGRPRA requires the federal banking agencies to review their regulations every 10 years to identify outdated, unnecessary, or unduly burdensome regulations, allowing community bankers to articulate concerns with regulatory burden and its impact on local communities.

Past ICBA Comments: In a letter to banking regulators last fall in the previous round of comments under regulators’ EGRPRA review, ICBA recommended ways the agencies can reduce regulatory burdens on community banks.