WASHINGTON -- The Office of the Comptroller of the Currency
(OCC) today announced a new national bank service simplifying the corporate
application process. National banks
using the new “e-Corp” system can now electronically complete and submit branch
and relocation applications to the OCC.
E-Corp applications use simple, interactive features making
the submission of licensing applications easier. Applicants see only those questions needed to complete a
particular application. Drop-down menus
assist applicants with bank-specific information drawn from OCC databases. Hyperlinks connect users quickly and easily
to all relevant licensing terms, laws and regulations, thereby reducing
research efforts.
E-Corp performs an automatic review to ensure the document
is complete before accepting the application.
Applicants are prompted to answer missed or incomplete questions to
ensure that the application process will not be unduly delayed. In addition, those with designated signature
authority can sign and submit applications to the OCC on-line and e-Corp
provides an immediate acknowledgment.
E-Corp represents the most significant change in licensing
filings since the OCC started accepting applications. The service is one component of the agency’s continuing effort to
eliminate unnecessary regulatory burden, simplify administrative processes,
enhance communications, reduce paperwork, and take full advantage of
e-government mandates.
The OCC conducted a five-month pilot of the e-Corp
application process with a selected number of national banks before making the
new service available to all national banks.
E-Corp now is available on National Banknet, the OCC’s secure extranet
website available exclusively to national banks.
The OCC plans to continue to expand the number of applications
and notices available on e-Corp with new applications available every few
months. The OCC goal is to have 90% of
licensing applications available on e-Corp in the next three years.
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The OCC charters, regulates and examines approximately
2,100 national banks and 52 federal branches of foreign banks in the U.S.,
accounting for more than 55 percent of the nation’s banking assets. Its
mission is to ensure a safe and sound and competitive national banking system
that supports the citizens, communities and economy of the United States.
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