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TREAS/OCC RIN: 1557-AE45 Publication ID: Spring 2019 
Title: Covered Savings Associations 
Abstract:

The OCC issued a notice of proposed rulemaking (NPRM) to implement section 5A of the Home Owners’ Loan Act, which allows Federal savings associations with assets of $20 billion or less to elect to operate as covered savings associations.  Covered savings associations operate with the same rights and are subject to the same restrictions as a national bank in the same location.  As required by section 5A, the NPRM proposed standards and procedures for making the election.  It also addressed nonconforming assets and clarifies requirements for the treatment of covered savings associations.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: 12 CFR 101   
Legal Authority: 12 U.S.C. 93a    12 U.S.C. 1462a    12 U.S.C. 1463    12 U.S.C. 1464    12 U.S.C. 1464a    12 U.S.C. 5412(b)(2)(B)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  09/18/2018  83 FR 47101   
NPRM Comment Period End  11/19/2018 
Final Rule  05/00/2019 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.regulations.gov/docket?D=OCC-2018-0020   Public Comment URL: https://www.regulations.gov/docket?D=OCC-2018-0020  
RIN Data Printed in the FR: No 
Agency Contact:
Alison MacDonald
Senior Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-7314
Email: alison.macdonald@occ.treas.gov

Priscilla Benner
Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6973
Email: priscilla.benner@occ.treas.gov