Economic Growth and Regulatory Paperwork Reduction Act

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) requires federal banking agencies to review their regulations every ten years to identify outdated or unnecessary requirements for insured depository institutions.

To streamline this process, the agencies have divided their regulations into categories, with four distinct commenting periods to facilitate phased input. The third comment period, ending on March 11, 2025, focuses on rules of procedure, safety and soundness, and securities.

ABA strongly supports EGRPRA's intent and urges agencies to use this review to provide meaningful regulatory relief to banks and savings associations.

Additionally, ABA believes the review should include other regulatory burdens, such as those imposed by the CFPB and FinCEN. ABA convened a working group to prepare a comment letter ahead of the March deadline to ensure the industry's voice is heard.