Proposed Rulemaking on Public Welfare, CLO Investments, Nondiscriminatory
Summary
The OCC proposes to streamline 12 CFR parts 24, 43, and 128 by rescinding or amending regulations that are unnecessary, lack clear statutory authority, or are duplicative or burdensome, consistent with Executive Order 14219. The proposed changes would remove certain references to minority- and women-owned entities in community development investment regulations, rescind credit risk retention requirements for open market collateralized loan obligations (CLOs) at 12 CFR 43.9, and remove duplicative non-discrimination requirements for federal savings associations. Comments must be received within 30 days after publication in the Federal Register.
“The proposed rule would streamline 12 CFR parts 24, 43, and 128 of title 12 of the Code of Federal Regulations by rescinding or amending regulations that meet the criteria of EO 14219 or are otherwise unnecessary, duplicative, or burdensome.”
National banks and federal savings associations engaged in community development investments, open market CLO transactions, or subject to federal savings association non-discrimination requirements should prepare to revise compliance programs once this rule is finalized. Institutions relying on the current credit risk retention framework for open market CLOs should document existing positions and assess whether prior compliance structures need to be adjusted pending the expected rescission of 12 CFR 43.9.
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What changed
The OCC proposes to amend three parts of title 12 of the Code of Federal Regulations. Part 24 regulations governing Community Development Corporation and Project Investments would have certain references to minority- and women-owned entities removed. Part 43.9 would be rescinded in its entirety, eliminating credit risk retention requirements for open market collateralized loan obligations. Part 128 would have certain duplicative non-discrimination requirements removed for federal savings associations.
National banks, federal savings associations, and federal branches and agencies of foreign banking organizations should review their community development investment programs, open market CLO activities, and non-discrimination compliance programs in anticipation of these changes. Banks that have structured open market CLO investments relying on the existing credit risk retention framework should monitor this rulemaking closely as rescission of 12 CFR 43.9 may affect compliance obligations for future transactions.
Archived snapshot
Apr 24, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
OCC Bulletin 2026-16 | April 24, 2026
Notice of Proposed Rulemaking: Streamlining Regulations Concerning Public Welfare Investments, Open Market Collateralized Loan Obligations, and Federal Savings Association Nondiscrimination Requirements
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To
Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
Summary
The Office of the Comptroller of the Currency (OCC) is issuing a notice of proposed rulemaking to rescind or amend certain regulations that are unnecessary, based on anything other than the best reading of the underlying statutory authority, or lacking clear statutory authority, consistent with Executive Order 14219, Ensuring Lawful Governance and Implementing the President’s “Department of Government Efficiency” Deregulatory Initiative (EO 14219). The proposed rule would streamline 12 CFR parts 24, 43, and 128 of title 12 of the Code of Federal Regulations by rescinding or amending regulations that meet the criteria of EO 14219 or are otherwise unnecessary, duplicative, or burdensome.
Comments on all aspects of the proposed rule must be received by 30 days after publication in the Federal Register.
Note for Community Banks
This bulletin applies to all banks.
Highlights
- Consistent with EO 14219, the proposed rule would remove certain references to minority- and women-owned entities in the part 24 regulations for Community Development Corporation and Project Investments and Other Public Welfare Investments; rescind the credit risk retention requirements for open market collateralized loan obligations at 12 CFR 43.9; and remove certain duplicative non-discrimination requirements for federal savings associations in part 128.
Background
The OCC conducted a review of its existing regulations for consistency with the criteria set out in EO 14219, which requires agencies to review all regulations subject to their sole or joint jurisdiction for consistency with law and administration policy. Among other criteria, EO 14219 requires agencies to identify regulations that (1) are based on anything other than the best reading of the underlying statutory authority and (2) implicate matters of social, political, or economic significance that are not authorized by clear statutory authority.
Further Information
Please contact Chris Rafferty, Counsel, Chief Counsel’s Office, at (202) 649-5490.
Adam Cohen
Senior Deputy Comptroller and Chief Counsel
Related Link
- Streamlining Regulations Concerning Public Welfare Investments, Open Market Collateralized Loan Obligations, and Federal Savings Association Nondiscrimination Requirements (PDF) 1 90 Fed. Reg. 10583 (February 19, 2025).
2 “Banks” refers collectively to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.
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