The Federal Reserve Board on Tuesday invited comment on an interagency proposal to update policies and procedures governing administrative proceedings for supervised financial institutions. The proposed updates would modernize these rules, aligning them with current practices and facilitating the use of electronic communications and technology in administrative proceedings. The proposal was jointly developed with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration.
In addition, the Federal Reserve Board invited comment on proposed updates to additional rules applicable only to Board administrative proceedings. These proposed updates would codify existing practices and promote transparency.
Comments will be accepted for 60 days after publication in the Federal Register.
