OCC Activities and Operations of National Banks and Federal Savings Associations Summary
This tool summarizes the Office of the Comptroller of the Currency’s (“OCC”) notice of proposed rulemaking to revise and reorganize its regulations relating to the activities and operations of national banks and Federal savings associations. The following are the key takeaways of the changes:
- The proposed rule clarifies and codifies recent OCC interpretations.
- The proposed rule also integrates certain regulations for national banks and Federal savings associations.
- The proposed rule updates or eliminates outdated regulatory requirements.
- The proposed rule creates the regulatory framework for a national bank and Federal savings association to engage in a tax equity finance transaction.
- The proposed rule provides clarity to national banks regarding their authority to become members of payment systems.
- The proposed rule adds a section allowing a bank to establish and operate a remote service unit under 12 U.S.C. 24(Seventh).
- Additionally, the proposed rule includes technical changes throughout part 7.
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