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# US federal bank regulators seek comment on reducing regulatory burden
- URL: https://www.theglobalbanker.com/us-federal-bank-regulators-seek-comment-on-reducing-regulatory-burden/
- Published: 2024-12-03T19:30:00.000Z
- Updated: 2026-11-08T13:10:44.000Z
- Description: The Fed, FDIC and OCC issued their third EGRPRA notice on 3 December 2024, inviting comment on rules covering procedure, safety and soundness, and securities.
- Author: TGB Editorial Team
- Tags: Regulations, Americas, #archive

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued their third notice requesting public comment on reducing regulatory burden on 3 December 2024, as part of a statutory review of their rules.

The notice forms part of a review required under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), which obliges the Federal Financial Institutions Examination Council and the federal bank regulatory agencies to review their regulations at least once every 10 years to identify outdated or otherwise unnecessary regulatory requirements for the institutions they supervise.

#### THREE CATEGORIES UNDER REVIEW

To carry out the review, the agencies divided their regulations into 12 categories. The latest notice seeks comment on three of them: Rules of Procedure, Safety and Soundness, and Securities. The public has 90 days from publication of the notice in the Federal Register to respond.

The December notice followed two earlier requests in 2024\. The first, issued on 6 February, covered Applications and Reporting, Powers and Activities, and International Operations. The second, issued on 25 July, covered Consumer Protection; Directors, Officers and Employees; and Money Laundering. Each of the earlier notices also carried a 90-day comment period.

The agencies said they would request comment on regulations in the remaining categories in 2025, asking the public to identify rules they believe are outdated, unnecessary or unduly burdensome. They also plan to hold outreach meetings at which interested parties can comment on regulatory requirements directly to the agencies, with details to be announced once finalised.