On September 28, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) (collectively, federal banking agencies) announced that they will hold an outreach meeting on Monday, October 19 at the Federal Reserve Bank of Chicago as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). The meeting is the fifth in a series of outreach sessions that the federal banking agencies are holding throughout the country. The meeting will feature panel presentations by bankers and consumer and community groups. Interested persons also may present their views on any of the 12 categories of regulations listed here.
FDIC Chairman Martin J. Gruenberg, Comptroller of the Currency Thomas J. Curry and Federal Reserve Governor Lael Brainard are scheduled to attend. Bryan A. Schneider, secretary of the Illinois Department of Financial and Professional Regulation will also attend. Other state banking regulators are invited to participate through the State Liaison Committee of the Federal Financial Institutions Examination Council (FFIEC). The meeting will be webcast live here. Members of the public watching online will be able to submit written comments using the text chat feature at any time during the presentations. In addition to the online option, a toll-free telephone number also will be provided for members of the public who would like only to listen to the meeting, and who may choose later to submit written comments.
EGRPRA requires the agencies, along with the FFIEC, to conduct a review at least every 10 years to identify outdated or otherwise unnecessary regulations. The agencies have divided their regulations into 12 categories and requested comments in the Federal Register for nine categories. The agencies will request comment on the remaining three categories later this year. The previously published Federal Register notices are available here.
As previously announced, the agencies have expanded the scope of the EGRPRA review to cover newly issued regulations. Comments will be accepted on all rules that have been finalized before the publication of the last in the series of EGRPRA notices.
Details on the Chicago meeting, including registration information and the agenda, are available on the EGRPRA website.
The final outreach meeting will be held in the Washington, DC area on December 2.