The Federal Reserve Board announced on Thursday that it will replace its current bank application filing system with a new and upgraded system later this month. The substantive requirements of applications will remain the same with the new system making the filing process more intuitive and minimizing paper applications and communications.
The new cloud-based system, known as FedEZFile, will provide real-time status tracking, two-way messaging, and digitally signed documents for applications. An "Ask the Fed" webinar on the new system will be scheduled at a later date.
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