22056 Federal Register / Vol. 79, No. 76 / Monday, April 21, 2014 / Proposed Rules
1 76 FR 39247 (July 6, 2011).
Impact Statement and the proposed
waste confidence rulemaking. The NRC
staff will consider any insights gained
from this review when analyzing the
issues raised in PRM–51–30.
The NRC is not requesting public
comment on the PRM at this time.
Dated at Rockville, Maryland, this 15th day
of April, 2014.
For the Nuclear Regulatory Commission.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. 2014–09026 Filed 4–18–14; 8:45 am]
BILLING CODE 7590–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308 and 390
RIN 3064–AE08
Regulations Transferred From Office of
Thrift Savings and Rules of Practice
and Procedure
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Notice of proposed rulemaking.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’)
proposes to rescind and remove
regulations transferred from the Office
of Thrift Savings (‘‘OTS’’), and amend
its rules of practice and procedure in
ways that will ensure that all insured
depository institutions, for which the
FDIC is the appropriate Federal banking
agency (‘‘FBA’’), are subject to the same
substantive and procedural rules
governing administrative hearings.
DATES: Comments must be received on
or before June 20, 2014.
ADDRESSES: You may submit comments
by any of the following methods:
• FDIC Web site: http://www.fdic.gov/
regulations/laws/federal/propose.html.
Follow instructions for submitting
comments on the agency Web site.
• FDIC Email: Comments@fdic.gov.
Include RIN 3064–AE08 on the subject
line of the message.
• FDIC Mail: Robert E. Feldman,
Executive Secretary, Attention:
Comments, Federal Deposit Insurance
Corporation, 550 17th Street NW.,
Washington, DC 20429.
• Hand Delivery to FDIC: Comments
may be hand-delivered to the guard
station at the rear of the 550 17th Street
building (located on F Street) on
business days between 7 a.m. and 5 p.m.
Please include your name, affiliation,
address, email address, and telephone
number(s) in your comment. Where
appropriate, comments should include a
short Executive Summary consisting of
no more than five single-spaced pages.
All statements received, including
attachments and other supporting
materials, are part of the public record
and are subject to public disclosure.
You should submit only information
that you wish to make publicly
available.
Please note: All comments received will be
posted generally without change to http://
www.fdic.gov/regulations/laws/federal/
propose.html, including any personal
information provided. Paper copies of public
comments may be requested from the Public
Information Center by telephone at 1–877–
275–3342 or 1–703–562–2200.
FOR FURTHER INFORMATION CONTACT:
Scott Patterson, Senior Review
Examiner, Division of Risk Management
Supervision, (202) 898–6953, Andrea
Winkler, Supervisory Counsel, Legal
Division, (202) 898–3727; Heather
Walters, Counsel, Legal Division, (202)
898–6729.
SUPPLEMENTARY INFORMATION: In this
notice of proposed rulemaking, the
Federal Deposit Insurance Corporation
(‘‘FDIC’’) proposes to rescind and
remove from the Code of Federal
Regulations 12 CFR part 390, subparts
B, C, D, and E as redundant of existing
uniform rules of practice and procedure
applicable to administrative hearings.
These subparts were included in the
regulations that were transferred to the
FDIC from the Office of Thrift Savings
(OTS) on July 21, 2011, in connection
with the implementation of applicable
provisions of Title III of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’).
With few exceptions addressed below,
the requirements for State savings
associations in Part 390, subparts B
through E are substantively similar to
those in FDIC’s 12 CFR part 308,
subparts A, B, C, K, and N. The FDIC
further proposes to amend 12 CFR part
308, subparts A, B, C, K, and N, to
modify the scope of the rules to include
State savings associations and to
conform to and reflect the scope of the
FDIC’s current supervisory
responsibilities as the appropriate
Federal banking agency for those
institutions. Additionally, the FDIC
proposes to modify these regulations in
minor ways that will ensure that all
insured depository institutions, for
which the FDIC is the appropriate
Federal banking agency (‘‘FBA’’), are
subject to the same substantive and
procedural rules governing
administrative hearings.
I. Part 308 Amendments
A. Background
The Dodd-Frank Act provided for a
substantial reorganization of the
regulation of State and Federal savings
associations and their holding
companies. Beginning July 21, 2011, the
transfer date established by Section 311
of the Dodd-Frank Act, codified at 12
U.S.C. 5411, the powers, duties, and
functions formerly performed by the
OTS were divided among the FDIC, as
to State savings associations, the Office
of the Comptroller of the Currency
(‘‘OCC’’), as to Federal savings
associations, and the Board of
Governors of the Federal Reserve
System (‘‘FRB’’), as to savings and loan
holding companies. Section 316(b) of
the Dodd-Frank Act, codified at 12
U.S.C. 5414(b), provides the manner of
treatment for all orders, resolutions,
determinations, regulations, and
advisory materials that had been issued,
made, prescribed, or allowed to become
effective by the OTS. The section
provides that if such materials were in
effect on the day before the transfer
date, they continue to be in effect and
are enforceable by or against the
appropriate successor agency until they
are modified, terminated, set aside, or
superseded in accordance with
applicable law by such successor
agency, by any court of competent
jurisdiction, or by operation of law.
Section 316(c) of the Dodd-Frank Act,
codified at 12 U.S.C. 5414(c), further
directed the FDIC and the OCC to
consult with one another and to publish
a list of the continued OTS regulations
that would be enforced by the FDIC and
the OCC, respectively. On June 14, 2011,
the FDIC’s Board of Directors approved
a ‘‘List of OTS Regulations to be
Enforced by the OCC and the FDIC
Pursuant to the Dodd-Frank Wall Street
Reform and Consumer Protection Act.’’
This list was published by the FDIC and
the OCC as a Joint Notice in the Federal
Register on July 6, 2011.1
Although Section 312(b)(2)(B)(i)(II) of
the Dodd-Frank Act, codified at 12
U.S.C. 5412(b)(2)(B)(i)(II), granted the
OCC rulemaking authority relating to
both State and Federal savings
associations, nothing in the Dodd-Frank
Act affected the FDIC’s existing
authority to issue regulations under the
FDI Act and other laws as the
‘‘appropriate Federal banking agency’’
or under similar statutory terminology.
Section 312(c) of the Dodd-Frank Act
amended the definition of ‘‘appropriate
Federal banking agency’’ contained in
Section 3(q) of the FDI Act, 12 U.S.C.
VerDate Mar<15>2010 13:55 Apr 18, 2014 Jkt 232001 PO 00000 Frm 00009 Fmt 4702 Sfmt 4702 E:\FR\FM\21APP1.SGM 21APP1
ehiers on DSK2VPTVN1PROD with PROPOSALS-1
1 76 FR 39247 (July 6, 2011).
Impact Statement and the proposed
waste confidence rulemaking. The NRC
staff will consider any insights gained
from this review when analyzing the
issues raised in PRM–51–30.
The NRC is not requesting public
comment on the PRM at this time.
Dated at Rockville, Maryland, this 15th day
of April, 2014.
For the Nuclear Regulatory Commission.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. 2014–09026 Filed 4–18–14; 8:45 am]
BILLING CODE 7590–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308 and 390
RIN 3064–AE08
Regulations Transferred From Office of
Thrift Savings and Rules of Practice
and Procedure
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Notice of proposed rulemaking.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’)
proposes to rescind and remove
regulations transferred from the Office
of Thrift Savings (‘‘OTS’’), and amend
its rules of practice and procedure in
ways that will ensure that all insured
depository institutions, for which the
FDIC is the appropriate Federal banking
agency (‘‘FBA’’), are subject to the same
substantive and procedural rules
governing administrative hearings.
DATES: Comments must be received on
or before June 20, 2014.
ADDRESSES: You may submit comments
by any of the following methods:
• FDIC Web site: http://www.fdic.gov/
regulations/laws/federal/propose.html.
Follow instructions for submitting
comments on the agency Web site.
• FDIC Email: Comments@fdic.gov.
Include RIN 3064–AE08 on the subject
line of the message.
• FDIC Mail: Robert E. Feldman,
Executive Secretary, Attention:
Comments, Federal Deposit Insurance
Corporation, 550 17th Street NW.,
Washington, DC 20429.
• Hand Delivery to FDIC: Comments
may be hand-delivered to the guard
station at the rear of the 550 17th Street
building (located on F Street) on
business days between 7 a.m. and 5 p.m.
Please include your name, affiliation,
address, email address, and telephone
number(s) in your comment. Where
appropriate, comments should include a
short Executive Summary consisting of
no more than five single-spaced pages.
All statements received, including
attachments and other supporting
materials, are part of the public record
and are subject to public disclosure.
You should submit only information
that you wish to make publicly
available.
Please note: All comments received will be
posted generally without change to http://
www.fdic.gov/regulations/laws/federal/
propose.html, including any personal
information provided. Paper copies of public
comments may be requested from the Public
Information Center by telephone at 1–877–
275–3342 or 1–703–562–2200.
FOR FURTHER INFORMATION CONTACT:
Scott Patterson, Senior Review
Examiner, Division of Risk Management
Supervision, (202) 898–6953, Andrea
Winkler, Supervisory Counsel, Legal
Division, (202) 898–3727; Heather
Walters, Counsel, Legal Division, (202)
898–6729.
SUPPLEMENTARY INFORMATION: In this
notice of proposed rulemaking, the
Federal Deposit Insurance Corporation
(‘‘FDIC’’) proposes to rescind and
remove from the Code of Federal
Regulations 12 CFR part 390, subparts
B, C, D, and E as redundant of existing
uniform rules of practice and procedure
applicable to administrative hearings.
These subparts were included in the
regulations that were transferred to the
FDIC from the Office of Thrift Savings
(OTS) on July 21, 2011, in connection
with the implementation of applicable
provisions of Title III of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’).
With few exceptions addressed below,
the requirements for State savings
associations in Part 390, subparts B
through E are substantively similar to
those in FDIC’s 12 CFR part 308,
subparts A, B, C, K, and N. The FDIC
further proposes to amend 12 CFR part
308, subparts A, B, C, K, and N, to
modify the scope of the rules to include
State savings associations and to
conform to and reflect the scope of the
FDIC’s current supervisory
responsibilities as the appropriate
Federal banking agency for those
institutions. Additionally, the FDIC
proposes to modify these regulations in
minor ways that will ensure that all
insured depository institutions, for
which the FDIC is the appropriate
Federal banking agency (‘‘FBA’’), are
subject to the same substantive and
procedural rules governing
administrative hearings.
I. Part 308 Amendments
A. Background
The Dodd-Frank Act provided for a
substantial reorganization of the
regulation of State and Federal savings
associations and their holding
companies. Beginning July 21, 2011, the
transfer date established by Section 311
of the Dodd-Frank Act, codified at 12
U.S.C. 5411, the powers, duties, and
functions formerly performed by the
OTS were divided among the FDIC, as
to State savings associations, the Office
of the Comptroller of the Currency
(‘‘OCC’’), as to Federal savings
associations, and the Board of
Governors of the Federal Reserve
System (‘‘FRB’’), as to savings and loan
holding companies. Section 316(b) of
the Dodd-Frank Act, codified at 12
U.S.C. 5414(b), provides the manner of
treatment for all orders, resolutions,
determinations, regulations, and
advisory materials that had been issued,
made, prescribed, or allowed to become
effective by the OTS. The section
provides that if such materials were in
effect on the day before the transfer
date, they continue to be in effect and
are enforceable by or against the
appropriate successor agency until they
are modified, terminated, set aside, or
superseded in accordance with
applicable law by such successor
agency, by any court of competent
jurisdiction, or by operation of law.
Section 316(c) of the Dodd-Frank Act,
codified at 12 U.S.C. 5414(c), further
directed the FDIC and the OCC to
consult with one another and to publish
a list of the continued OTS regulations
that would be enforced by the FDIC and
the OCC, respectively. On June 14, 2011,
the FDIC’s Board of Directors approved
a ‘‘List of OTS Regulations to be
Enforced by the OCC and the FDIC
Pursuant to the Dodd-Frank Wall Street
Reform and Consumer Protection Act.’’
This list was published by the FDIC and
the OCC as a Joint Notice in the Federal
Register on July 6, 2011.1
Although Section 312(b)(2)(B)(i)(II) of
the Dodd-Frank Act, codified at 12
U.S.C. 5412(b)(2)(B)(i)(II), granted the
OCC rulemaking authority relating to
both State and Federal savings
associations, nothing in the Dodd-Frank
Act affected the FDIC’s existing
authority to issue regulations under the
FDI Act and other laws as the
‘‘appropriate Federal banking agency’’
or under similar statutory terminology.
Section 312(c) of the Dodd-Frank Act
amended the definition of ‘‘appropriate
Federal banking agency’’ contained in
Section 3(q) of the FDI Act, 12 U.S.C.
VerDate Mar<15>2010 13:55 Apr 18, 2014 Jkt 232001 PO 00000 Frm 00009 Fmt 4702 Sfmt 4702 E:\FR\FM\21APP1.SGM 21APP1
ehiers on DSK2VPTVN1PROD with PROPOSALS-1
22057Federal Register / Vol. 79, No. 76 / Monday, April 21, 2014 / Proposed Rules
2 76 FR 47652 (Aug. 5, 2011).
1813(q), to add State savings
associations to the list of entities for
which the FDIC is designated as the
‘‘appropriate Federal banking agency.’’
As a result, when the FDIC acts as the
designated ‘‘appropriate Federal
banking agency’’ (or under similar
terminology) for State savings
associations, as it does here, the FDIC is
authorized to issue, modify and rescind
regulations involving such associations,
as well as for State nonmember banks
and insured branches of foreign banks.
As noted, on June 14, 2011, pursuant
to this authority, the FDIC’s Board of
Directors reissued and redesignated
certain transferring regulations of the
former OTS. These transferred OTS
regulations were published as new FDIC
regulations in the Federal Register on
August 5, 2011.2 When it republished
the transferred OTS regulations as new
FDIC regulations, the FDIC specifically
noted that its staff would evaluate the
transferred OTS regulations and might
later recommend incorporating the
transferred OTS regulations into other
FDIC regulations, amending them, or
rescinding them, as appropriate.
B. Summary of the Amendments
Section 916 of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (‘‘FIRREA’’)
required the FDIC, the FRB, the OCC,
the OTS, and the National Credit Union
Association (‘‘NCUA’’) to adopt joint
uniform rules of practice and
procedures and ‘‘local rules’’ that
govern administrative hearings. Since
August 1991, the FDIC has been
operating under uniform rules set forth
at 12 CFR part 308, subpart A, 12 CFR
308.1–308.41, as well as its own set of
‘‘local rules’’ set forth at 12 CFR part
308, subpart B, 12 CFR 308.101-
308.107. The FDIC proposes to amend
part 308, subparts A, B, C, K, and N to
make several technical and conforming
changes to expand the scope of the rules
and procedures to include enforcement
actions brought against State savings
associations under additional statutory
authority transferred from the OTS.
FDIC’s Existing 12 CFR Part 308,
Subpart A—Uniform Rules of Practice
and Procedure
Part 308, subpart A contains the
uniform rules of procedure agreed to
and followed by all of the Federal
banking agencies. The FDIC presented
these proposed changes to the OCC, the
FRB, and the NCUA and none of the
agencies objected to the proposed
revisions to subpart A.
Section 308.1: As presently written,
section 308.1 sets the broad parameters
of what types of enforcement actions are
covered by the Uniform Rules. We
propose minor conforming amendments
to provide the FDIC with the authority
to seek civil money penalties against
State savings associations for violations
of various laws such as the Federal
Reserve Board Act, 12 U.S.C. 1468, and
certain sections of the Home Owners’
Loan Act, 12 U.S.C. 1464 (‘‘HOLA’’).
Section 308.3: As presently written,
section 308.3 defines the terms used in
the Uniform Rules. The proposed
amendments include a new definition of
‘‘Investigation’’ to provide the FDIC
with authority to investigate State
savings associations under HOLA that
was previously under OTS authority.
Certain amendments will also clarify
and update terms such as ‘‘Designee’’,
remove references to the OTS, and also
correct a few technical errors in
statutory and regulatory citation.
Section 308.25: As presently written,
section 308.25 addresses document
discovery in enforcement actions
covered by the Administrative
Procedure Act. We propose to correct a
technical citation error.
Former OTS’s 12 CFR Part 509, Subparts
A and B (Transferred to FDIC’s Part 390,
Subpart C)
The OTS’s rules of practice and
procedure for adjudicatory proceedings,
formerly found at 12 CFR part 509,
subparts A and B, were transferred to
the FDIC and relocated with nominal
changes to 12 CFR part 390, subpart C.
Subpart C contains both the OTS’s
uniform rules and local rules. After
careful review and comparison of the
OTS rules that were transferred to 12
CFR part 390, subpart C to the FDIC’s
uniform and local rules, this proposed
revision rescinds part 390, subpart C,
because it essentially duplicates the
uniform rules. To the extent that the
OTS local rules contained in subpart C
differed from the FDIC’s local rules,
those changes are discussed below in
part 308, subpart B.
Moreover, it is important that all
insured depository institutions for
which the FDIC is the appropriate
Federal banking agency are subject to
the same substantive and procedural
rules governing administrative hearings.
Rescinding part 390, subpart C will
streamline the FDIC’s rules and
eliminate unnecessary regulations.
Therefore, this proposed revision
recinds 12 CFR part 390, subpart C it its
entirety.
FDIC’s Existing 12 CFR Part 308,
Subpart B—General Rules of Procedure
Section 308.101: As presently written,
section 308.101(a) sets the scope of the
Local Rules and makes clear that the
rules contained in subpart A, ‘‘Uniform
Rules,’’ and subpart B ‘‘Local Rules’’ do
not apply to subparts D through P of
part 308 unless specifically provided.
We propose to correct a technical
citation error. We also propose a new
subsection 308.101(d) to provide the
FDIC with the authority to seek civil
money penalties against State savings
associations for violations of the
Exchange Act, 15 U.S.C. 78o(c).
Section 308.107: As presently written,
section 308.107 restricts discovery in
administrative enforcement proceedings
to document discovery only. We
propose to correct an internal technical
citation error.
Former OTS’s 12 CFR Part 509, Subparts
A and B (Transferred to FDIC’s Part 390,
Subpart C)
The OTS’s rules of practice and
procedure for adjudicatory proceedings,
formerly found at 12 CFR part 509,
subparts A and B, were transferred to
the FDIC and relocated with nominal
changes to 12 CFR part 390, subpart C.
Subpart C contains both the OTS’s
uniform rules and local rules. In
contrast to the FDIC local rules, the OTS
local rules permitted additional
discovery procedures such as
depositions and had formal provisions
pertaining to certain post-hearing
motions and extensions of time. FDIC
staff found that additional discovery
procedures permitted by the OTS local
rules were not necessary or appropriate.
The OTS local rules also contained two
provisions that formalized post-hearing
procedures. The FDIC generally follows
these practices when needed, but relies
on the informal broad discretion of the
Board and/or the Administrative Law
Judge to make the appropriate rulings.
After careful review and comparison of
transferred OTS local rules at 12 CF part
390, subpart C to the FDIC’s local rules,
this proposed revision rescinds part
390, subpart C in its entirety.
Rescinding part 390, subpart C will
streamline the FDIC’s rules and
eliminate unnecessary regulations.
FDIC’s Existing 12 CFR Part 308,
Subpart C—Rules of Practice Before the
FDIC and Standards of Conduct
Section 308.109: As presently written,
section 308.109(b) sets forth the
requirements for mandatory suspension
and debarment. Subsection
308.109(b)(2) proposes adding language
requiring attorneys who wish to appear
VerDate Mar<15>2010 13:55 Apr 18, 2014 Jkt 232001 PO 00000 Frm 00010 Fmt 4702 Sfmt 4702 E:\FR\FM\21APP1.SGM 21APP1
ehiers on DSK2VPTVN1PROD with PROPOSALS-1
2 76 FR 47652 (Aug. 5, 2011).
1813(q), to add State savings
associations to the list of entities for
which the FDIC is designated as the
‘‘appropriate Federal banking agency.’’
As a result, when the FDIC acts as the
designated ‘‘appropriate Federal
banking agency’’ (or under similar
terminology) for State savings
associations, as it does here, the FDIC is
authorized to issue, modify and rescind
regulations involving such associations,
as well as for State nonmember banks
and insured branches of foreign banks.
As noted, on June 14, 2011, pursuant
to this authority, the FDIC’s Board of
Directors reissued and redesignated
certain transferring regulations of the
former OTS. These transferred OTS
regulations were published as new FDIC
regulations in the Federal Register on
August 5, 2011.2 When it republished
the transferred OTS regulations as new
FDIC regulations, the FDIC specifically
noted that its staff would evaluate the
transferred OTS regulations and might
later recommend incorporating the
transferred OTS regulations into other
FDIC regulations, amending them, or
rescinding them, as appropriate.
B. Summary of the Amendments
Section 916 of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (‘‘FIRREA’’)
required the FDIC, the FRB, the OCC,
the OTS, and the National Credit Union
Association (‘‘NCUA’’) to adopt joint
uniform rules of practice and
procedures and ‘‘local rules’’ that
govern administrative hearings. Since
August 1991, the FDIC has been
operating under uniform rules set forth
at 12 CFR part 308, subpart A, 12 CFR
308.1–308.41, as well as its own set of
‘‘local rules’’ set forth at 12 CFR part
308, subpart B, 12 CFR 308.101-
308.107. The FDIC proposes to amend
part 308, subparts A, B, C, K, and N to
make several technical and conforming
changes to expand the scope of the rules
and procedures to include enforcement
actions brought against State savings
associations under additional statutory
authority transferred from the OTS.
FDIC’s Existing 12 CFR Part 308,
Subpart A—Uniform Rules of Practice
and Procedure
Part 308, subpart A contains the
uniform rules of procedure agreed to
and followed by all of the Federal
banking agencies. The FDIC presented
these proposed changes to the OCC, the
FRB, and the NCUA and none of the
agencies objected to the proposed
revisions to subpart A.
Section 308.1: As presently written,
section 308.1 sets the broad parameters
of what types of enforcement actions are
covered by the Uniform Rules. We
propose minor conforming amendments
to provide the FDIC with the authority
to seek civil money penalties against
State savings associations for violations
of various laws such as the Federal
Reserve Board Act, 12 U.S.C. 1468, and
certain sections of the Home Owners’
Loan Act, 12 U.S.C. 1464 (‘‘HOLA’’).
Section 308.3: As presently written,
section 308.3 defines the terms used in
the Uniform Rules. The proposed
amendments include a new definition of
‘‘Investigation’’ to provide the FDIC
with authority to investigate State
savings associations under HOLA that
was previously under OTS authority.
Certain amendments will also clarify
and update terms such as ‘‘Designee’’,
remove references to the OTS, and also
correct a few technical errors in
statutory and regulatory citation.
Section 308.25: As presently written,
section 308.25 addresses document
discovery in enforcement actions
covered by the Administrative
Procedure Act. We propose to correct a
technical citation error.
Former OTS’s 12 CFR Part 509, Subparts
A and B (Transferred to FDIC’s Part 390,
Subpart C)
The OTS’s rules of practice and
procedure for adjudicatory proceedings,
formerly found at 12 CFR part 509,
subparts A and B, were transferred to
the FDIC and relocated with nominal
changes to 12 CFR part 390, subpart C.
Subpart C contains both the OTS’s
uniform rules and local rules. After
careful review and comparison of the
OTS rules that were transferred to 12
CFR part 390, subpart C to the FDIC’s
uniform and local rules, this proposed
revision rescinds part 390, subpart C,
because it essentially duplicates the
uniform rules. To the extent that the
OTS local rules contained in subpart C
differed from the FDIC’s local rules,
those changes are discussed below in
part 308, subpart B.
Moreover, it is important that all
insured depository institutions for
which the FDIC is the appropriate
Federal banking agency are subject to
the same substantive and procedural
rules governing administrative hearings.
Rescinding part 390, subpart C will
streamline the FDIC’s rules and
eliminate unnecessary regulations.
Therefore, this proposed revision
recinds 12 CFR part 390, subpart C it its
entirety.
FDIC’s Existing 12 CFR Part 308,
Subpart B—General Rules of Procedure
Section 308.101: As presently written,
section 308.101(a) sets the scope of the
Local Rules and makes clear that the
rules contained in subpart A, ‘‘Uniform
Rules,’’ and subpart B ‘‘Local Rules’’ do
not apply to subparts D through P of
part 308 unless specifically provided.
We propose to correct a technical
citation error. We also propose a new
subsection 308.101(d) to provide the
FDIC with the authority to seek civil
money penalties against State savings
associations for violations of the
Exchange Act, 15 U.S.C. 78o(c).
Section 308.107: As presently written,
section 308.107 restricts discovery in
administrative enforcement proceedings
to document discovery only. We
propose to correct an internal technical
citation error.
Former OTS’s 12 CFR Part 509, Subparts
A and B (Transferred to FDIC’s Part 390,
Subpart C)
The OTS’s rules of practice and
procedure for adjudicatory proceedings,
formerly found at 12 CFR part 509,
subparts A and B, were transferred to
the FDIC and relocated with nominal
changes to 12 CFR part 390, subpart C.
Subpart C contains both the OTS’s
uniform rules and local rules. In
contrast to the FDIC local rules, the OTS
local rules permitted additional
discovery procedures such as
depositions and had formal provisions
pertaining to certain post-hearing
motions and extensions of time. FDIC
staff found that additional discovery
procedures permitted by the OTS local
rules were not necessary or appropriate.
The OTS local rules also contained two
provisions that formalized post-hearing
procedures. The FDIC generally follows
these practices when needed, but relies
on the informal broad discretion of the
Board and/or the Administrative Law
Judge to make the appropriate rulings.
After careful review and comparison of
transferred OTS local rules at 12 CF part
390, subpart C to the FDIC’s local rules,
this proposed revision rescinds part
390, subpart C in its entirety.
Rescinding part 390, subpart C will
streamline the FDIC’s rules and
eliminate unnecessary regulations.
FDIC’s Existing 12 CFR Part 308,
Subpart C—Rules of Practice Before the
FDIC and Standards of Conduct
Section 308.109: As presently written,
section 308.109(b) sets forth the
requirements for mandatory suspension
and debarment. Subsection
308.109(b)(2) proposes adding language
requiring attorneys who wish to appear
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