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Effective Date: Removal of Transferred OTS Regulations Regarding Prompt Corrective Action Directives and Conforming Amendments to Other Regulations

FDIC issued a final rule to rescind and remove from the Code of Federal Regulations rules entitled, Prompt Corrective Action, that were transferred to FDIC from the Office of Thrift Supervision (OTS) on 07/21/2011, in connection with implementation of Title III of the Dodd- Frank Act and to amend certain sections of existing FDIC regulations governing the issuance and review of orders pursuant to the prompt corrective action provisions of the Federal Deposit Insurance Act to make it clear 
that such rules apply to all insured depository institutions for which FDIC is the appropriate federal banking agency. Read more here.

  • March 5, 2021
  • Time: All Day