FDIC Amends Application Requirements for Establishment, Relocation of Branches

As part of its ongoing effort to review and rescind outdated or irrelevant regulations and guidance, the FDIC has issued a final rule amending its application requirements for the establishment and relocation of branches and offices. Under the final rule, these applications will no longer require statements regarding compliance with the National Historic Preservation Act of 1966 and the National Environmental Policy Act of 1969.

The final rule removes references to compliance statements and rescinds two statements of policy related to the NHPA and NEPA. These changes—which are expected to reduce the costs associated with filing branch applications for affected institutions—will also align the FDIC with other federal banking agencies.