The Fed Seeks Comment On Changes For Administrative Proceedings

The Federal Reserve Board last week invited comment on an interagency proposal to update policies and procedures governing administrative proceedings for supervised financial institutions. 

The proposed updates would modernize the rules, align them with current practices and facilitate the use of electronic communications and technology in administrative proceedings, officials said.

The proposal was jointly developed with the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA).

In addition, the Federal Reserve Board invited comment on proposed updates to additional rules applicable only to board administrative proceedings. These proposed updates would codify existing practices and promote transparency, officials said.

You can review the proposed changes here.

Comments will be accepted for 60 days after publication in the Federal Register, The Fed said.