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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations The final rule rescinds 390.143. As discussed in the NPR, aspects of 390.143 are either duplicative of prohibitions under the general fair lending laws. With regard to 390.143b, the rule reduces compliance requirements associated with maintaining and distributing relevant paperwork. The FDIC believes that this is likely to pose a relatively small benefit to the 35 institutions to which it applies. Further, the FDIC
believes that it is unlikely that the rescission of the requirement to establish, maintain, and distribute upon request nondiscriminatory loan underwriting standards for these 35
State savings associations would lead to an increase in discriminatory lending behavior because these institutions are still subject to the general fair lending laws. Therefore, the FDIC does not believe that this aspect of the final rule, if adopted, is likely to have substantive effects on FDIC-supervised institutions or applicants.
The final rule rescinds 390.144. As discussed in the NPR, Section 390.144a is substantially similar to, and duplicative of, prohibitions under the general Federal fair lending laws.17
The FDIC also believes that the requirement to post an Equal Housing Lender poster, discussed above in connection with 338.4, serves a substantially similar purpose as the requirement to inform each inquirer of his or her right to file a written loan application in 390.144b. Therefore, the FDIC believes that the rescission of 390.144 is unlikely to have any substantive effect on FDIC-supervised institutions or applicants.
The final rule rescinds 390.145. As discussed in the NPR, Section 390.145
is substantially similar to 338.4 and the rule amends 338.4 to cover State savings associations in addition to insured State nonmember banks.
Therefore, the FDIC believes that this aspect of the final rule is unlikely to have any substantive effect on FDICsupervised institutions or applicants.
The final rule rescinds 390.146. As discussed in the NPR, the requirements of 390.146 are substantially similar to the requirements applicable to insured State nonmember banks under 338.4.
Section 338.4, however, unlike 390.146, does not include a recommendation that a Spanishlanguage version of the Equal Housing Lender poster be posted in offices serving areas with a substantial Spanish-speaking population. The FDIC
does, however, make a Spanish17 See, e.g., 15 U.S.C. 1691a; 42 U.S.C. 3605; 12
CFR 1002.4; 24 CFR 100.120.

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language poster available to the institutions it supervises. Given the substantive similarity of much of 390.146 to 338.4, the FDIC believes that rescinding it is unlikely to have substantial effects on covered institutions or applicants.
With the adoption of this final rule the FDIC rescinds 390.147. As discussed in the NPR, the FDIC believes that 390.147 is duplicative now that reporting reason for denial is required rather than optional under Regulation C.
Further, since Regulation C provides a partial exemption from reporting reason for denial and certain other data points for financial institutions that meet specified conditions, but no such exemption exists for State savings associations, the final rule establishes parity with respect to the reporting requirements for HMDA LARs for State savings associations and other FDICsupervised institutions. The FDIC
believes that this aspect of the final rule is unlikely to significantly affect FDICsupervised institutions or applicants.
The final rule rescinds 390.148. As discussed in the NPR, the FDIC believes that there is significant overlap between the requirements of 390.148a through d and various aspects of the EEOA.
Further, 390.148e and f references multiple employment laws, including the EEOA, which with the rescission of the rest of 390.148, would be unnecessary. Therefore, the FDIC
believes that this aspect of the final rule is unlikely to substantively affect FDICsupervised institutions or applicants.
The final rescinds 390.149. As discussed in the NPR, the FDIC has procedures for referring complaints to HUD regarding lending discrimination by financial institutions and these procedures apply to complaints involving lending by State savings associations. However, there appears to be no equivalent requirement to the provisions in 390.149 regarding referring complaints to the Equal Employment Opportunity Commission EEOC regarding employment discrimination by FDIC-supervised institutions. This aspect of the final rule will thus create parity between insured State nonmember banks and State savings associations with respect to complaints about discriminatory lending. Given that FDIC-supervised institutions are still subject to applicable elements of the EEOA and FDIC regulations and procedures, the FDIC does not believe that this aspect of the final rule is likely to have a substantive effect on covered institutions or their employees.
The final rule rescinds 390.150. As discussed in the NPR, this section
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contains guidelines intended to serve as a resource for State savings associations when developing and implementing nondiscriminatory lending policies.
State savings associations, like other FDIC-supervised banks, remain subject to Federal fair lending laws and regulations and the FDIC does not believe removal of these guidelines will have any meaningful effect on these institutions or their applicants.
Finally, the final rule makes some technical changes to FDICs part 338 in order to make it applicable to State savings associations and provide for Equal Housing Lender posters to state the accurate CRC mailing address. As previously discussed, these changes are unlikely to have significant effects on State savings associations because those savings associations are already subject to substantively similar regulations.
Rescinding part 390, subpart G, also will serve to streamline the FDICs rules and eliminate unnecessary, inconsistent, and duplicative regulations. The final rule will ensure that insured State nonmember banks and State savings associations will be subject to the same antidiscrimination requirements.
VI. Alternatives Several alternatives to the final rule were available to the FDIC. The FDIC
could have retained the current regulations in part 390, subpart G, but chose not to do so since most of the requirements in subpart G are duplicative of or substantively similar to existing requirements under Federal law or under the FDICs current fair housing requirements in part 338. As discussed in the NPR, the FDIC also could have retained certain requirements in subpart G that the OTS issued pursuant to the Home Owners Loan Act, but chose not to do.
In the instances where the regulations in part 390, subpart G, were more stringent than similar requirements for insured State nonmember banks, the FDIC could have applied those requirements to insured State nonmember banks. However, the FDIC
chose not to adopt this alternative because it believes the fair lending laws and regulations that already apply to insured State nonmember banks provide an appropriate and sufficient framework to prohibit discrimination.
The FDIC believes that this final rule, which removes and rescinds part 390, subpart G, and makes the FDICs existing nondiscrimination regulations applicable to State savings associations, is less burdensome to State savings associations and the public than the alternatives discussed above since it would promote consistency among the
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