FDIC rule revisions on applications for new, relocation of branch offices takes effect next month

A final rule that removes a previous requirement that state-chartered, federally insured nonmember banks applying for new branches or offices, or seeking to relocate them, address compliance with historic preservation and environmental statutes takes effect Dec. 14, according to a notice in Friday’s Federal Register.

Under the Federal Deposit Insurance Corp. (FDIC) final rule, such applications no longer require statements regarding the compliance of such proposals with the National Historic Preservation Act of 1966 (NHPA) and the National Environmental Policy Act of 1969 (NEPA). The final rule amends the FDIC’s regulations to remove NHPA and NEPA requirements embedded in its branch application procedures. It also rescinds FDIC statements of policy regarding the NHPA and the NEPA, consistent with branch application procedures for national banks and insured state member banks supervised by the Office of the Comptroller of the Currency (OCC) and Federal Reserve Board.

This rule was proposed in June by the Federal Deposit Insurance Corp. (FDIC) Board in June with a 30-day comment period.

Final rule, branch application procedures

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