The OCC has announced actions to reduce the regulatory burden on community banks. The OCC is removing fixed examination requirements for community banks and instead tailoring the examination scope and frequency to be consistent with risk-based supervision. The OCC also announced that it will only use the core assessment standards in the Community Bank Supervision booklet of the Comptroller’s Handbook to examine for retail nondeposit investment products.

In a separate bulletin, the OCC clarified its expectations that community banks should tailor model risk management practices commensurate with the bank’s risk exposures, its business activities, and the complexity and extent of its model use.

The OCC also requested comments a proposal to rescind its Fair Housing Home Loan Data System regulation, removing largely duplicative data collection requirements for national banks. And the OCC proposed broadening eligibility for expedited or reduced licensing procedures to community banks.

Author: sdbrownlow

Student of Design