83 FR 27329 - Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies; Rescission of Policy Statement

FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

Federal Register Volume 83, Issue 113 (June 12, 2018)

Page Range		27329-27330
FR Document		2018-12557

The FFIEC is rescinding its policy statement titled ``Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies'' that was issued on February 20, 1997 (the ``1997 Policy Statement''). This action is being coordinated with the publication of a new policy statement in the Federal Register by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), which reflects the current practices of the federal banking agencies with respect to the coordination of formal enforcement actions against federally regulated financial institutions and institution-affiliated parties.

Federal Register, Volume 83 Issue 113 (Tuesday, June 12, 2018)

[Federal Register Volume 83, Number 113 (Tuesday, June 12, 2018)]
[Notices]
[Pages 27329-27330]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-12557]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL


Interagency Coordination of Formal Corrective Action by the 
Federal Bank Regulatory Agencies; Rescission of Policy Statement

AGENCY: Federal Financial Institutions Examination Council (FFIEC).

ACTION: Rescission of policy statement.

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SUMMARY: The FFIEC is rescinding its policy statement titled 
``Interagency Coordination of Formal Corrective Action by the Federal 
Bank Regulatory Agencies'' that was issued on February 20, 1997 (the 
``1997 Policy Statement''). This action is being coordinated with the 
publication of a new policy statement in the Federal Register by the 
Board of Governors of the Federal Reserve System (FRB), the Federal 
Deposit Insurance Corporation (FDIC), and the Office of the Comptroller 
of the Currency (OCC), which reflects the current practices of the 
federal banking agencies with respect to the coordination of formal 
enforcement actions against federally regulated financial institutions 
and institution-affiliated parties.

DATES: The policy is rescinded as of June 12, 2018.

FOR FURTHER INFORMATION CONTACT: 
    Board of Governors of the Federal Reserve Board (FRB): Jason 
Gonzalez, Special Counsel, Legal Division, (202) 452-3275; Jodi Remer, 
Senior Counsel (202) 452-6403, Legal Division, Board of Governors of 
the Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551. For the hearing impaired or users of 
Telecommunication Device for Deaf (TDD) only, call (202) 263-4869.
    Federal Deposit Insurance Corporation (FDIC): Sam Ozeck, 
Supervisory Counsel, Legal Division, SOzeck@FDIC.gov, (202) 898-6736; 
George Parkerson, Acting Chief, Division of Risk Management 
Supervision, GParkerson@FDIC.gov, (202) 898-3648.
    Office of the Comptroller of the Currency (OCC): Jessica Burrell, 
Counsel, Enforcement and Compliance, (202-649-6200); William Jauquet, 
Assistant Director, Enforcement and Compliance, (202-649-6200). For 
persons who are deaf or hearing impaired, TTY (202) 649-5597.

SUPPLEMENTARY INFORMATION: The 1997 Policy Statement principally 
addressed the requirement for each federal banking agency that proposed 
to take a formal enforcement action against a federally regulated 
financial institution, or institution-affiliated party, to provide 
written notice of such action to the other federal and state banking 
agencies.\1\ Such notice was to be provided prior to or at the 
initiation of any such formal enforcement action. In the event that a 
complementary action (such as an action involving a bank and its parent 
holding company) was considered appropriate by two or more federal 
banking agencies, the 1997 Policy Statement also encouraged 
coordination between the involved agencies regarding preparation, 
processing, presentation, service, and follow-up of the related 
enforcement

[[Page 27330]]

actions. It should be noted that the 1997 policy statement was created 
at a time when electronic communication was much less common than it is 
today and no longer reflects the current practices of the federal 
banking agencies in coordinating formal enforcement actions. 
Importantly, the formal enforcement actions taken by the federal 
banking agencies are now published on the individual agencies' public 
websites, making it no longer necessary for the agencies to provide 
written notice of all such actions to each other. Moreover, the FRB, 
FDIC, and OCC have adopted a new policy that encourages notification to 
other interested federal banking agencies at the earliest practicable 
date and promotes coordination among the FBAs related to formal 
enforcement actions as appropriate. For the above reasons, the 1997 
Policy Statement is being rescinded.
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    \1\ 62 FR 7782, 7783 (Feb. 20, 1997).

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    Dated at Washington, DC, this 22nd day of May 2018.

Federal Financial Institutions Examination Council.
Judith E. Dupre,
Executive Secretary.
[FR Doc. 2018-12557 Filed 6-11-18; 8:45 am]
 BILLING CODE 7535-01- 6714-01- 6210-01-4810-33- 4810-AM-P

Federal Register / Vol. 83, No. 113 / Tuesday, June 12, 2018 / Notices 27329

OMB Control Number: 3060–0819. Service Administrative Company This action is being coordinated with
Title: Lifeline and Link Up Reform (USAC or Administrator) be withheld the publication of a new policy
and Modernization, from public inspection under 47 CFR statement in the Federal Register by the
Telecommunications Carriers Eligible 0.459 of the FCC’s rules. We note that Board of Governors of the Federal
for Universal Service Support, Connect USAC must preserve the confidentiality Reserve System (FRB), the Federal
America Fund. of all data obtained from respondents; Deposit Insurance Corporation (FDIC),
Form Numbers: FCC Form 555, FCC must not use the data except for and the Office of the Comptroller of the
Form 481, FCC Form 497, FCC Form purposes of administering the universal Currency (OCC), which reflects the
5629, FCC Form 5630, FCC Form 5631. service programs; and must not disclose current practices of the federal banking
Type of Review: Revision of a data in company-specific form unless agencies with respect to the
currently approved collection. directed to do so by the Commission. coordination of formal enforcement
Respondents: Individuals or Needs and Uses: The Commission actions against federally regulated
households and business or other for- will submit this information collection financial institutions and institution-
profit. after this 60-day comment period to affiliated parties.
Number of Respondents and obtain approval from the Office of DATES: The policy is rescinded as of
Responses: 17,547,843 respondents; Management and Budget (OMB) of June 12, 2018.
20,317,788 responses. revisions to this information collection.
Estimated Time per Response: .0167 FOR FURTHER INFORMATION CONTACT:
On November 16, 2017, the Board of Governors of the Federal
hours–253 hours. Commission adopted the Bridging the
Frequency of Response: Annual, Reserve Board (FRB): Jason Gonzalez,
Digital Divide for Low-Income Special Counsel, Legal Division, (202)
biennial, monthly, daily and on Consumers, WC Docket Nos, 17–287,
occasion reporting requirements, 452–3275; Jodi Remer, Senior Counsel
11–42, 09–197, Fourth Report and (202) 452–6403, Legal Division, Board of
recordkeeping requirement and third Order, Order on Reconsideration,
party disclosure requirement. Governors of the Federal Reserve
Memorandum Opinion and Order, System, 20th Street and Constitution
Obligation to Respond: Required to
Notice of Proposed Rulemaking, and Avenue NW, Washington, DC 20551.
obtain or retain benefits. Statutory
Notice of Inquiry, FCC 17–155 (2017) For the hearing impaired or users of
authority is contained in Sections 1,
(Lifeline Fourth Report and Order), Telecommunication Device for Deaf
4(i), 5, 201, 205, 214, 219, 220, 254,
which limited enhanced Tribal Lifeline (TDD) only, call (202) 263–4869.
303(r), and 403 of the Communications
support to facilities-based carriers on Federal Deposit Insurance
Act of 1934, as amended, and section
Tribal lands to more efficiently utilize Corporation (FDIC): Sam Ozeck,
706 of the Communications Act of 1996,
Universal Service funds. This revision Supervisory Counsel, Legal Division,
as amended; 47 U.S.C. 151, 154(i), 155,
implements the requirement that ETCs SOzeck@FDIC.gov, (202) 898–6736;
201, 205, 214, 219, 220, 254, 303(r), 403,
provide written notice to their George Parkerson, Acting Chief,
and 1302.
customers who are currently receiving Division of Risk Management
Total Annual Burden: 10,972,641
enhanced support who will no longer be Supervision, GParkerson@FDIC.gov,
hours.
Total Annual Cost: $937,500. eligible for enhanced Tribal support. In (202) 898–3648.
Privacy Act Impact Assessment: Yes. addition, the Commission seeks to Office of the Comptroller of the
The Commission completed a Privacy update the number of respondents for Currency (OCC): Jessica Burrell,
Impact Assessment (PIA) for some of the most of the existing information Counsel, Enforcement and Compliance,
information collection requirements collection requirements, thus increasing (202–649–6200); William Jauquet,
contained in this collection. The PIA the total burden hours for some Assistant Director, Enforcement and
was published in the Federal Register at requirements and decreasing the total Compliance, (202–649–6200). For
82 FR 38686 on August 15, 2017. The burden hours for other requirements. persons who are deaf or hearing
PIA may be reviewed at: http:// Federal Communications Commission. impaired, TTY (202) 649–5597.
www.fcc.gov/omd/privacyact/Privacy_ Marlene Dortch, SUPPLEMENTARY INFORMATION: The 1997
Impact_Assessment.html. Secretary, Office of the Secretary. Policy Statement principally addressed
Nature and Extent of Confidentiality: [FR Doc. 2018–12626 Filed 6–11–18; 8:45 am]
the requirement for each federal banking
Some of the requirements contained in agency that proposed to take a formal
BILLING CODE 6712–01–P
this information collection affect enforcement action against a federally
individuals or households, and thus, regulated financial institution, or
there are impacts under the Privacy Act. institution-affiliated party, to provide
The FCC’s system of records notice FEDERAL FINANCIAL INSTITUTIONS written notice of such action to the
(SORN) associated with this collection EXAMINATION COUNCIL other federal and state banking
is FCC/WCB–1, ‘‘Lifeline Program.’’ Interagency Coordination of Formal agencies.1 Such notice was to be
The Commission will use the Corrective Action by the Federal Bank provided prior to or at the initiation of
information contained in FCC/WCB–1 Regulatory Agencies; Rescission of any such formal enforcement action. In
to cover the personally identifiable Policy Statement the event that a complementary action
information (PII) that is required as part (such as an action involving a bank and
of the Lifeline Program (‘‘Lifeline’’). As AGENCY: Federal Financial Institutions its parent holding company) was
required by the Privacy Act of 1974, as Examination Council (FFIEC). considered appropriate by two or more
sradovich on DSK3GMQ082PROD with NOTICES

amended, 5 U.S.C. 552a, the ACTION: Rescission of policy statement. federal banking agencies, the 1997
Commission published FCC/WCB–1 Policy Statement also encouraged
‘‘Lifeline Program’’ in the Federal SUMMARY: The FFIEC is rescinding its coordination between the involved
Register on August 15, 2017 (82 FR policy statement titled ‘‘Interagency agencies regarding preparation,
38686). Coordination of Formal Corrective processing, presentation, service, and
Also, respondents may request Action by the Federal Bank Regulatory follow-up of the related enforcement
materials or information submitted to Agencies’’ that was issued on February
the Commission or to the Universal 20, 1997 (the ‘‘1997 Policy Statement’’). 1 62 FR 7782, 7783 (Feb. 20, 1997).

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27330 Federal Register / Vol. 83, No. 113 / Tuesday, June 12, 2018 / Notices

actions. It should be noted that the 1997 (12 U.S.C. 1843). Unless otherwise A. Federal Reserve Bank of Richmond
policy statement was created at a time noted, nonbanking activities will be (Adam M. Drimer, Assistant Vice
when electronic communication was conducted throughout the United States. President) 701 East Byrd Street,
much less common than it is today and Unless otherwise noted, comments Richmond, Virginia 23219. Comments
no longer reflects the current practices regarding each of these applications can also be sent electronically to or
of the federal banking agencies in must be received at the Reserve Bank Comments.applications@rich.frb.org:
coordinating formal enforcement indicated or the offices of the Board of 1. CBM Bancorp Inc., Parkville,
actions. Importantly, the formal Governors not later than July 5, 2018. Maryland; to become a savings and loan
enforcement actions taken by the federal A. Federal Reserve Bank of Kansas holding company by merging with
banking agencies are now published on City (Dennis Denney, Assistant Vice Banks of Chesapeake, M.H.C. Parkville,
the individual agencies’ public President) 1 Memorial Drive, Kansas Maryland, and thereby indirectly
websites, making it no longer necessary City, Missouri 64198–0001: acquire Chesapeake Bank of Maryland,
for the agencies to provide written 1. Midwest Banc Holding Co., Pierce, Parkville, Maryland.
notice of all such actions to each other. Nebraska; to acquire up to 100 percent In connection with the proposal,
Moreover, the FRB, FDIC, and OCC have of the voting shares of Redstone Bank, Banks of Chesapeake M.H.C will convert
adopted a new policy that encourages Centennial, Colorado. from mutual to stock form.
notification to other interested federal Board of Governors of the Federal Reserve Board of Governors of the Federal Reserve
banking agencies at the earliest System, June 6, 2018. System, June 6, 2018.
practicable date and promotes Ann Misback, Ann Misback,
coordination among the FBAs related to Secretary of the Board. Secretary of the Board.
formal enforcement actions as [FR Doc. 2018–12596 Filed 6–11–18; 8:45 am]
appropriate. For the above reasons, the [FR Doc. 2018–12537 Filed 6–11–18; 8:45 am]
BILLING CODE 6210–01–P
1997 Policy Statement is being BILLING CODE 6210–01–P
rescinded.
Dated at Washington, DC, this 22nd day of FEDERAL RESERVE SYSTEM
May 2018. DEPARTMENT OF HEALTH AND
Federal Financial Institutions Examination Formations of, Acquisitions by, and HUMAN SERVICES
Council. Mergers of Savings and Loan Holding
Judith E. Dupre, Companies Food and Drug Administration
Executive Secretary. The companies listed in this notice [Docket No. FDA–2016–D–1164]
[FR Doc. 2018–12557 Filed 6–11–18; 8:45 am] have applied to the Board for approval,
Agency Information Collection
BILLING CODE 7535–01– 6714–01– 6210–01–4810–33– pursuant to the Home Owners’ Loan Act
4810–AM–P Activities; Submission for Office of
(12 U.S.C. 1461 et seq.) (HOLA),
Management and Budget Review;
Regulation LL (12 CFR part 238), and
Comment Request; Qualified Facility
Regulation MM (12 CFR part 239), and
FEDERAL RESERVE SYSTEM Attestation
all other applicable statutes and
Formations of, Acquisitions by, and regulations to become a savings and AGENCY: Food and Drug Administration,
Mergers of Bank Holding Companies loan holding company and/or to acquire HHS.
the assets or the ownership of, control ACTION: Notice.
The companies listed in this notice of, or the power to vote shares of a
have applied to the Board for approval, savings association and nonbanking SUMMARY: The Food and Drug
pursuant to the Bank Holding Company companies owned by the savings and Administration (FDA or we) is
Act of 1956 (12 U.S.C. 1841 et seq.) loan holding company, including the announcing that a proposed collection
(BHC Act), Regulation Y (12 CFR part companies listed below. of information has been submitted to the
225), and all other applicable statutes The applications listed below, as well Office of Management and Budget
and regulations to become a bank as other related filings required by the (OMB) for review and clearance under
holding company and/or to acquire the Board, are available for immediate the Paperwork Reduction Act of 1995.
assets or the ownership of, control of, or inspection at the Federal Reserve Bank DATES: Fax written comments on the
the power to vote shares of a bank or indicated. The application also will be collection of information by June 12,
bank holding company and all of the available for inspection at the offices of 2018.
banks and nonbanking companies the Board of Governors. Interested
owned by the bank holding company, persons may express their views in ADDRESSES: To ensure that comments on
including the companies listed below. writing on the standards enumerated in the information collection are received,
The applications listed below, as well the HOLA (12 U.S.C. 1467a(e)). If the OMB recommends that written
as other related filings required by the proposal also involves the acquisition of comments be faxed to the Office of
Board, are available for immediate a nonbanking company, the review also Information and Regulatory Affairs,
inspection at the Federal Reserve Bank includes whether the acquisition of the OMB, Attn: FDA Desk Officer, Fax: 202–
indicated. The applications will also be nonbanking company complies with the 395–7285, or emailed to oira_
available for inspection at the offices of standards in section 10(c)(4)(B) of the submission@omb.eop.gov. All
the Board of Governors. Interested HOLA (12 U.S.C. 1467a(c)(4)(B)). Unless comments should be identified with the
persons may express their views in OMB control number 0910—NEW and
sradovich on DSK3GMQ082PROD with NOTICES

otherwise noted, nonbanking activities
writing on the standards enumerated in will be conducted throughout the title ‘‘Qualified Facility Attestation.’’
the BHC Act (12 U.S.C. 1842(c)). If the United States. Also include the FDA docket number
proposal also involves the acquisition of Unless otherwise noted, comments found in brackets in the heading of this
a nonbanking company, the review also regarding each of these applications document.
includes whether the acquisition of the must be received at the Reserve Bank FOR FURTHER INFORMATION CONTACT:
nonbanking company complies with the indicated or the offices of the Board of Domini Bean, Office of Operations,
standards in section 4 of the BHC Act Governors not later than July 6, 2018. Food and Drug Administration, Three

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Document Created: 2018-06-12 00:47:44
Document Modified: 2018-06-12 00:47:44

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Rescission of policy statement.
Dates		The policy is rescinded as of June 12, 2018.
Contact		Board of Governors of the Federal Reserve Board (FRB): Jason Gonzalez, Special Counsel, Legal Division, (202) 452-3275; Jodi Remer, Senior Counsel (202) 452-6403, Legal Division, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. For the hearing impaired or users of Telecommunication Device for Deaf (TDD) only, call (202) 263-4869.
FR Citation		83 FR 27329