Jump to Content
Issue

Informing EGRPRA Reviews

Supporting a Safe Reduction of the Regulatory Burden on Insured Depository Institutions

ABA Position

ABA supports a periodic review of federal banking regulations to identify those that are outdated, unnecessary, or unduly burdensome. We strongly encourage the FDIC, OCC, and Federal Reserve (the Agencies) to take the necessary steps required to reduce the regulatory burden that banks currently face, and hope the Agencies use their mandated review under EGRPRA as an opportunity to provide meaningful regulatory relief.

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) requires that regulations prescribed by the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of Governors of the Federal Reserve System be reviewed by the agencies at least once every 10 years.

The purpose of this review is to identify outdated, unnecessary, or unduly burdensome regulations that impact a bank's ability to serve its customers effectively and efficiently. The review also allows regulatory agencies to consider how to reduce regulatory burden on insured depository institutions while, at the same time, ensuring their safety and soundness and the safety and soundness of the financial system.

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) requires that regulations prescribed by the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of Governors of the Federal Reserve System be reviewed by the agencies at least once every 10 years.

The purpose of this review is to identify outdated, unnecessary, or unduly burdensome regulations that impact a bank's ability to serve its customers effectively and efficiently. The review also allows regulatory agencies to consider how to reduce regulatory burden on insured depository institutions while, at the same time, ensuring their safety and soundness and the safety and soundness of the financial system.

Show MoreLess

Our Experts

Shaun Kern

Shaun C. Kern

Senior Counsel, Center for Securities, Trust & Investments

Contact Shaun

Press Contact

Blair Bernstein

(202) 663-5468

Contact Blair

Stay Connected