In the July 6, 2011 Federal Register, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) published a joint notice of the Office of Thrift Supervision (OTS) regulations that will be enforced, respectively, by the OCC and FDIC (see the attached lists) beginning on the Dodd-Frank Act transfer date of July 21, 2011. The OCC will enforce the OTS regulations on its list with respect to Federal savings associations; and the FDIC will enforce the OTS regulations on its list with respect to State savings associations. The Dodd-Frank Act abolishes the OTS 90 days after the transfer date. The joint notice is not intended to have any substantive effect on these regulations; rather it provides a reference for Federal savings associations that will be regulated and supervised by the OCC beginning on the July 21, 2011 transfer date and for State savings associations that will be regulated and supervised by the FDIC beginning on the July 21, 2011 transfer date. This memorandum is for informational purposes only and does not require any action on your part.
