Agencies begin regulations review

The OCC, Federal Reserve and FDIC have jointly published a notice of their reviews of the regulations they have issued to identify outdated, unnecessary, or unduly burdensome regulations for insured depository institutions. The review is required by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 ("EGRPRA"). The current announcement requests public comments on regulations in three (Applications and Reporting, Powers and Activities, and International Operations) of twelve subject-matter categories. Three additional requests for comment covering the remaining nine categories will be published within the next two years. Comments on regulations in the first group of categories are due by September 2, 2014.