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Tuesday, October 20, 2015

OCC's Curry Calls on Congress to Extend Exam Cycles for Small Banks

Comptroller of the Currency Thomas Curry on Monday urged lawmakers to pass legislation that would extend the on-site examination cycle for small banks from 12 months to 18. "We think a greater number of healthy well-managed community institutions ought to qualify for the 18-month examination cycle," Curry said in remarks at an Economic Growth and Regulatory Paperwork Reduction Act meeting in Chicago.

The House passed an ABA advocated bill (H.R. 1553, the “Small Bank Exam Cycle Reform Act of 2015”) by a vote of 411-0 earlier this month that would double the threshold for qualifying for an 18-month examination cycle for institutions with less than $1 billion of assets.

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