Acting Comptroller Discusses Importance of Community Banks; Announces Reduction in Assessment Fees

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of community banks, and the challenges and opportunities of digitalization, in a meeting with the Texas Bankers Association in Dallas.

In his remarks, the Acting Comptroller emphasized the Office of the Comptroller of the Currency’s commitment to community banks, and highlighted initiatives to support community banks in the areas of assessments, de novo licensing, risk-based supervision, and regulation.

To level the playing field among community bank charters, the Acting Comptroller announced a 40 percent reduction in assessment rates for all banks on their first $200 million in total balance sheet assets and a 20 percent reduction for all banks on balance sheet assets above $200 million and up to $20 billion. The assessment reduction will be published in the OCC’s notice of assessment rates issued in December and result in a $41.3 million total savings for OCC-chartered community banks in 2023.

Related Links