OCC Issues Final Rule Authorizing Electronic Filing of Corporate Applications

 

WASHINGTON -- The Office of the Comptroller of the Currency (OCC) today published a final rule that permits national banks to file any class of corporate applications electronically.  The OCC seeks to minimize regulatory burden and to achieve greater efficiencies, including cost savings, through increased use of electronic technology.

 

Today’s final rule adopts without change an interim rule that was effective in April.  The final rule facilitates the OCC’s existing system for filing corporate applications electronically.  This “e-Corp” system was announced in March and enables national banks to file four types of corporate applications and five types of corporate notices electronically at the present time.  The OCC plans for 90 percent of corporate applications to be able to be filed electronically in three years.

 

National banks are not required to file corporate applications electronically. 

 

The final rule is available at www.occ.treas.gov.

 

# # #

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.