On March 14, 2016, the Office of the Comptroller of the Currency (OCC) proposed a number of changes to its rules in order to reduce the regulatory burden for its supervised financial institutions. Such an effort is part of the OCC’s decennial review of its rules, as required by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). Specifically, the OCC is proposing, among other things, to: remove notice and approval requirements for certain changes in permanent capital involving national banks; simplify certain licensing rules for business combinations involving federal mutual savings associations; clarify national bank director oath requirements; revise certain fiduciary activity requirements for national banks and federal savings associations; remove certain financial disclosure requirements for national banks; and remove unnecessary regulatory reporting, accounting, and management policy requirements for federal savings associations.

The proposed rule can be found at: https://www.gpo.gov/fdsys/pkg/FR-2016-03-14/pdf/2016-05089.pdf.