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ABA: The American Bankers Association
Statement

ABA Statement on HOLA Flexibility Final Rule

“ABA thanks the OCC for its thoughtful process in finalizing the Home Owners’ Loan Act Flexibility rule which was required as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act signed into law last year.  HOLA chartered banks are an important part of the banking industry, and the added flexibility will allow these institutions to better meet the evolving needs of their customers and communities without having to change charters. The final rule provides a clear and efficient process for banks seeking to take the election provided under the rule.

“As we noted in our comment letter, we believe that the statute provides greater flexibility in some areas than the OCC included in the final rule. We look forward to working with the Comptroller to seek additional avenues for HOLA chartered banks to better serve their communities.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18.5 trillion banking industry, which is composed of small, regional and large banks. Together, America’s banks employ more than 2 million men and women, safeguard $14 trillion in deposits and extend more than $10 trillion in loans.

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Blair Bernstein

(202) 663-5468

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