Browsing: Mutual institution policy

Community Banking Podcast: Reducing the friction in banking

Anne Tangen, a bank IT expert-turned-CEO at BankFive in Fall River, Massachusetts, talks about BankFive’s efforts to reduce friction in the account opening process, as well as her work to smooth the path for talented women in the community bank C-suite.

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.

Policy

As part of its ongoing actions to implement regulatory relief identified by the decennial Economic Growth and Regulatory Paperwork Reduction Act review, the OCC today proposed several rule changes and sought comments on prospective changes sought by ABA during the EGRPRA feedback process.

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