Rules implementing the Community Reinvestment Act (CRA), money laundering, banking operations, capital and consumer protection – among others – are all up for public comment at a special hearing set next month by the Federal Reserve, the agency said Thursday.
The Fed described its March 26 hearing as a “hybrid” in its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). The rule requires federal banking regulators, with public input, to review its regulations at least once every 10 years to identify “any outdated, unduly burdensome, or otherwise unnecessary regulatory requirements applicable to certain supervised institutions.”
The hearing, the Fed said, offers the public the occasion to air their views on the four regulatory categories outlined in the Federal Register notice applicable to Fed-supervised institutions. Those include:
- applications and reporting;
- powers and activities;
- international operations;
- consumer protection;
- directors, officers and employees;
- money laundering;
- rules of procedure;
- safety and soundness;
- securities;
- banking operations;
- capital;
Anyone wishing to provide oral comments, virtually or in person, must register by March 19. They must also indicate the regulatory category or categories they would like to discuss, the Fed said. Those persons selected to provide comments will be notified, the Fed said.
This public meeting will be at the Federal Reserve Board building in Washington, D.C.; it will be livestreamed for the public at the Fed’s website and on YouTube, the agency said. Advance registration is required to attend hearing as an in-person observer.
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