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Remigio Ferrara - NMLS ID #476380
Senior Loan Officer, McLean Mortgage Corporation

11325 Random Hills Road Suite 400 Fairfax, VA 22030
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Board issues interim final rule establishing regulations for savings and loan holding companies

August 12, 2011 by Remigio Ferrara

The Federal Reserve Board on Friday issued an interim final rule establishing regulations for savings and loan holding companies (SLHCs). The rule will take effect once it is published in the Federal Register, which is expected soon.

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, supervisory and rulemaking authority for SLHCs and their nondepository subsidiaries transferred from the Office of Thrift Supervision (OTS) to the Board on July 21, 2011. Last month, the Board sought comment on a notice identifying regulations previously issued by the OTS that the Federal Reserve will continue to enforce. The interim final rule issued Friday implements the transfer of those regulations from the OTS to the Board.

The Board on Friday also issued an Order delegating to staff and to the Reserve Banks the authority to take certain actions with respect to SLHCs.

The Board will accept comments on the interim final rule through October 27, 2011.

For media inquiries, call 202-452-2955.

Order Delegating Certain Actions Relating to Savings and Loan Holding Companies (125 KB PDF)

Federal Register notice: Regulations LL and MM, HTML | PDF

Comments: Submit | View

2011 Banking and Consumer Regulatory Policy
 

Filed Under: Banking & Consumer Reg Policy

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Remigio Ferrara

Senior Loan Officer, McLean Mortgage Corporation

11325 Random Hills Road, Suite 400
Fairfax, VA 22030

Website: www.mcleanlending.com/lo_rferrara.php
Office: 571-419-6632
Cell: 703-622-6999
NMLS ID #476380

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