Title 12 published on 17-Jun-2017 04:33
The following are
ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 343 after this date.
2016-11-21; vol. 81 # 224 - Monday, November 21, 2016
81 FR 83174 - Removal of Transferred OTS Regulations Regarding Consumer Protection in Sales of Insurance and Amendments to FDIC Consumer Protection in Sales of Insurance Regulation
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FEDERAL DEPOSIT INSURANCE CORPORATION
Notice of proposed rulemaking.
Comments must be received on or before January 20, 2017.
12 CFR Parts 343 and 390
In this notice of proposed rulemaking, the Federal Deposit Insurance Corporation (“FDIC”) proposes to rescind and remove from the Code of Federal Regulations the subpart entitled “Consumer Protection in Sales of Insurance” (“the subpart”) that was included in the regulations transferred to the FDIC from the Office of Thrift Supervision (“OTS”) on July 21, 2011 in connection with the implementation of applicable provisions of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). The requirements for State savings associations in this subpart are substantively similar to the requirements in the FDIC's part which is also entitled “Consumer Protection in Sales of Insurance” (“the part”) and is applicable for all insured depository institutions (“IDIs”) for which the FDIC has been designated the appropriate Federal banking agency. The FDIC proposes to rescind in its entirety the subpart and to modify the scope of the part to include State savings associations and their subsidiaries to conform to and reflect the scope of the FDIC's current supervisory responsibilities as the appropriate Federal banking agency. The FDIC also proposes to define “FDIC-supervised insured depository institution or institution” and “State savings association.” Finally, the FDIC proposes to transfer an anticoercion and antitying provision from the subpart that is applicable to State savings associations. Upon removal of the subpart, the Consumer Protection in Sales of Insurance, regulations applicable for all IDIs for which the FDIC has been designated the appropriate Federal banking agency will be found in the part.