The FDIC, the Federal Reserve Board, or FRB, the Office of the Comptroller of the Currency, or OCC, and the Office of Thrift Supervision, jointly prepared a plan required by Section 327(a) of the Dodd-Frank Act. It provides an overview of actions taken to date by the agencies to efficiently and effectively implement Sections 301 through 326 of the Dodd-Frank Act. Among other things, it describes the steps the agencies are taking to transfer the responsibilities of supervising federal savings associations to the OCC, state savings associations to the FDIC, and savings and loan holding companies to the FRB.
The plan was submitted to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, and the Inspectors General of the Department of the Treasury, the FDIC, and the Board of Governors of the FRB.
The next step will be for the Inspectors General of the Department of the Treasury, the FDIC, and the Board of Governors of the FRB to submit a report to certain congressional committees and others as to whether the plan complies with Sections 301 through 326 of the Dodd-Frank Act.
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