Application Processing

As a part of its on-going effort to review and streamline its regulations, the Office of Thrift Supervision (OTS) is issuing a final rule revising its comment procedures for specified applications and notices (collectively, applications). In addition to reorganizing the regulation, the OTS has expanded the comment period on these applications, set forth the information that a comment should contain, and replaced existing provisions requiring the OTS to conduct an oral argument on applications under certain circumstances, with provisions for informal and formal meetings. Under the final rule, the OTS will conduct an informal meeting ordinarily upon the request of a commenter, but also on its own initiative. Thereafter, upon the request of any participant to an informal meeting, the OTS will conduct a formal meeting. The OTS may also conduct a formal meeting on any application on its own initiative.