ABA Applauds OCC Actions to Reduce Regulatory Burden for Community Banks

“We welcome the series of OCC policy actions announced today that reflect the agency's strong commitment to regulatory tailoring and risk-based supervision for our nation's community banks. The guidance and proposed rulemakings will help ensure that individual institutions are subject to supervision that is appropriate to the risks presented by their products and services and that regulators keep their focus on material financial risks that directly affect the safety and soundness of the nation’s banks and our financial system. We appreciate Comptroller Gould's commonsense approach to regulation and supervision, which will help America’s community banks continue to meet the needs of their customers and communities both now and in the future. We look forward to working with the OCC and the other banking regulators on additional changes that will allow community banks to do even more to support the economy."