Federal financial agencies initiated several efforts to get stakeholder feedback on rulemaking proposals concerning bank supervision, the implementation of a federal framework for stablecoins and to eliminate obsolete regulations in February.
Find a brief description of these policy proposals with a link to more information on how to provide feedback in the roundup below:
OCC requests comments on GENIUS Act implementation
The Office of the Comptroller of the Currency (OCC) issued a proposed rulemaking to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on Feb. 25. The proposal was designed to address all of the regulations the OCC is required to promulgate under the GENIUS Act other than those related to the Bank Secrecy Act, Anti-Money Laundering and Office of Foreign Asset Control sanctions, which will be addressed in a separate rulemaking in coordination with the U.S. Treasury, according an agency press release. Public comments will be due 60 days from the date of publication in the Federal Register. Find more information here.
Regulators propose changes to bank appeals process
The OCC issued a notice of proposed rulemaking on Feb. 17 to update procedures and policies applicable to financial institutions when looking to appeal material supervisory determinations by the OCC. The proposed changes were designed to reflect the agency’s experience administering the bank appeals process and are intended to enhance the independence and efficiency of the appeals function, according to a press release. Specifically, the proposal would: replace the OCC’s existing guidance for handling bank appeals; establish a board, called the “appeals board,” to decide bank appeals; clarify a de novo standard of review for deciding appeals; establish standards for when stays of material supervisory determinations would be issued pending an appeal; strengthen the agency’s ombudsman function; establish standards for expedited appeals; and prohibit retaliation against a bank for filing an appeal. Comments are due 60 days following the proposal’s publication in the Federal Register. Learn more here.
Fed seeks to codify removal of reputation risk from supervisory program
The Federal Reserve requested comments on Feb. 23 regarding its proposal to codify its previously stated stance that bank supervisors should not cite reputational risk as a reason for penalizing or prohibiting banks from providing banking services to a customer. Fed Vice Chair for Supervision Michelle Bowman noted in a press release that banks have been known to “debank” customers for perceived reputational risks posed by their political views, religious beliefs or involvement in disfavored but lawful businesses.
“Discrimination by financial institutions on these bases is unlawful and does not have a role in the Federal Reserve's supervisory framework,” Bowman said.
The proposal is intended to build on previous statements by banking agencies over the past year, asserting that supervisory decisions should be based on material financial risks, with the intent to increase clarity and facilitate greater precision in supervisory decision making. Comments are due within 60 days following the proposal’s publication in the Federal Register. Learn more here.
Fed to hold hybrid meeting on EGRPRA review process
The Federal Reserve has scheduled a hybrid public outreach meeting for March 26, as part of its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). The EGRPRA requires the Fed 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. Stakeholders will be able to present their views on the following regulatory categories listed in any of the four Federal Register notices related to this process: 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; and the Community Reinvestment Act. Individuals interested in providing oral comments, either virtually or in person, must register by March 19, 2026, and indicate the regulatory category or categories they would like to discuss. Individuals selected to provide comments will be notified.
NCUA requests comments on six proposals for easing regulatory burdens
The National Credit Union Administration (NCAU) announced the sixth round of proposed regulatory changes as part of its “Deregulation Project” on Feb. 24. The agency noted in a press release that it has been conducting an ongoing review of its regulations to ensure they are focused on credit unions’ safety, soundness and resilience. The NCUA is requesting comments on six proposals that would clarify agency guidance or eliminate unduly burdensome or duplicative requirements in the Code of Federal Regulations. The six proposals address regulations pertaining to loan compensation/commissions; refund of interest (loans); refund of interest (loans); eligible obligations; credit union service contracts; post-election training for new board members; definitions related to statutory liens. Comments on these proposals will be due March 16. More details can be found here.