OTS Issues Final Rule Reducing Regulatory Burden

Originally published September 6, 2005

Contents

1. OTS Issues Final Rule Reducing Regulatory Burden
2. Federal District Court Dismisses Suits Relating to Funds’ Failure to Participate in Class Action Settlements
3. FDIC Releases Public Portion of Wal-Mart Bank Application
4. HUD Settles RESPA Proceeding Against Real Estate Agent

The OTS published a final rule (the "Final Rule") designed to reduce the regulatory burden on federal savings associations ("thrifts") in conducting their operations. In the branching context, the Final Rule: (1) eliminates any prior approval requirement before a thrift re-designates a home or branch office; (2) generally permits highly rated (capital, CAMELS, CRA, and compliance) thrifts to change the location of a home or branch office, or even establish a new branch office, without an OTS application or notice (although public notice requirements still apply); and (3) eliminates the notice