I've been told we no longer have to display the Annual Financial Disclosure Statement in the lobby. Is this correct? And where do I look to verify this?

It is my understanding that Federal Reserve has removed this requirement, but the other regulators have not.

The OTS does not require this disclosure to be displayed.

Pat Field

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Also, if you are publicly traded, you do not have to post notice. Theory is that you are now governed by SEC rules which require you to make your financial information public. Good news is ----one less sign in the lobby.

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Opinions expressed are not necessarily those of my employer.

For some reason, the FDIC and OCC are the only ones not to figure out that all of this info is available on the internet and no one every asks for it. If they do, they don't understand it. This is one outdated requirement.

Can someone point me to a citation in the OTS regs that says they do not require this lobby notice? The notices were posted in all of our branch lobbies when I came here from an OCC regulated institution a couple of years ago. We have been through a couple of OTS exams since then and the notices are still on the wall. I will need to see it in "black and white" before the powers that be will let me take it down. Thanks.

Fuzzy,

I have been with an OTS regulated bank for 11 years and we have never been told that our financial statement must be posted in the lobby.

Pat Field
First Arizona Savings

fuzzy: you may not be able to find it in "black and white". All the OTS Regs are in 12 CFR Part 500.
http://www.access.gpo.gov/cgi-bin/cfrassemble.cgi?title=200112

If a posting reqrment isnt present in Part 500, this is as close to "black and white" as youll get.

I AM NOT ENGAGED IN PROVIDING LEGAL ADVICE AND THE VIEWS EXPRESSED ARE NOT THOSE OF MY EMPLOYER