The FDIC will extend the public comment deadline for its proposed bank information disclosure rule to align it with a deadline for a similar rule proposed by the Office of the Comptroller of the Currency, according to a notice in the Federal Register. The American Bankers Association asked for the extension.
The proposed FDIC rule would allow banks to share confidential information with certain parties without first obtaining FDIC authorization, as long as the information is being shared for a business purpose and both parties have entered into a confidentiality agreement. It also would revise the agency’s Freedom of Information Act process.
The FDIC originally set an Aug. 31 deadline for comments on the proposal but will move it to Oct. 5 to give all parties more time to weigh in on rulemaking, according to the notice. Earlier this month, ABA and the Bank Policy Institute urged the FDIC to move back the deadline to match the Oct. 5 deadline of a similar rule proposed by the OCC.
“Allowing stakeholders to compare the FDIC and OCC approaches side by side would facilitate more comprehensive feedback regarding areas of alignment, divergence, and opportunities for harmonization,” the associations said.
