Browsing: HOLA

Mutual Banks

n a surprise announcement today at an mutual bank virtual forum co-hosted by the FDIC and OCC, a Federal Reserve official announced that the Federal Reserve has, via interpretive letter, determined that OCC-regulated savings associations that choose to exercise the option to become a “covered savings association” under Section 206 of the 2018 S. 2155 regulatory reform law will now be treated as national banks for purposes of regulation by the Federal Reserve.

Mutual Banks

As the OCC’s long-awaited HOLA flexibility rule took effect this week, the agency issued several documents to help bankers understand the new rule and provide guidance to institutions wishing to elect to become “covered associations.”

1 2 3 4