{"abstract":"The OCC is issuing a final rule to implement a new section of the Home Owners' Loan Act (HOLA). The Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) amended HOLA to add a new section that allows a Federal savings association with total consolidated assets equal to or less than $20 billion, as reported by the association to the Comptroller as of December 31, 2017, to elect to operate as a covered savings association. A covered savings association has the same rights and privileges as a national bank and is subject to the same duties, restrictions, penalties, liabilities, conditions, and limitations as a national bank. A covered savings association retains its Federal savings association charter and existing governance framework. The new section of HOLA requires the OCC to issue rules that, among other things, establish streamlined standards and procedures for elections to operate as covered savings associations and clarify requirements for the treatment of covered savings associations.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of the Comptroller of the Currency","name":"Comptroller of the Currency","id":80,"url":"https://www.federalregister.gov/agencies/comptroller-of-the-currency","json_url":"https://www.federalregister.gov/api/v1/agencies/80","parent_id":497,"slug":"comptroller-of-the-currency"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2019/05/24/2019-10902.html","cfr_references":[{"chapter":null,"citation_url":null,"part":101,"title":12}],"citation":"84 FR 23991","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"The final rule takes effect on July 1, 2019.","disposition_notes":null,"docket_ids":["Docket ID OCC-2018-0020"],"dockets":[],"document_number":"2019-10902","effective_on":"2019-07-01","end_page":24007,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2019/05/24/2019-10902.xml","html_url":"https://www.federalregister.gov/documents/2019/05/24/2019-10902/covered-savings-associations","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2019-10902?publication_date=2019-05-24","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2019-05-24/2019-10902/mods.xml","not_received_for_publication":null,"page_length":17,"page_views":{"count":2961,"last_updated":"2026-07-26 06:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2019-05-24/pdf/2019-10902.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2019-10902.pdf?1558615527","publication_date":"2019-05-24","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2019/05/24/2019-10902.txt","regulation_id_number_info":{"1557-AE45":{"issue":"201904","html_url":"https://www.federalregister.gov/regulations/1557-AE45/covered-savings-associations","title":"Covered Savings Associations","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201904&RIN=1557-AE45&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1557-AE45"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2019-05-27T03:30:07Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":23991,"subtype":null,"title":"Covered Savings Associations","toc_doc":"Covered Savings Association","toc_subject":null,"topics":["Administrative practice and procedure","Reporting and recordkeeping requirements","Savings associations"],"type":"Rule","volume":84}