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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations
regulatory requirements for all FDICsupervised institutions and improve the publics understanding and ease of reference. Additionally, the FDIC
believes that the final rule does not materially change the nondiscrimination requirements to which insured State nonmember banks and State savings associations are required to adhere, relative to the alternatives discussed.
VII. Administrative Law Matters A. The Paperwork Reduction Act In accordance with the requirements of the Paperwork Reduction Act of 1995
PRA,18 the FDIC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget OMB control number. The rescission and removal from FDIC regulations of part 390, subpart G, does not create new or modify existing information collection requirements. Accordingly, no submission to OMB will be made with respect to the final rule.
B. The Regulatory Flexibility Act The Regulatory Flexibility Act RFA
generally requires that, in connection with a rulemaking, an agency prepare and make available for public comment a final regulatory flexibility analysis describing the impact of the final rule on small entities.19 However, a regulatory flexibility analysis is not required if the agency certifies that the final rule will not have a significant economic impact on a substantial number of small entities. The Small Business Administration SBA has defined small entities to include banking organizations with total assets of less than or equal to $600 million that are independently owned and operated or owned by a holding company with less than or equal to $600 million in total assets.20 Generally, the FDIC
considers a significant effect to be a quantified effect in excess of 5 percent of total annual salaries and benefits per 18 44

U.S.C. 35013521.
U.S.C. 601 et seq.
20 The SBA defines a small banking organization as having $600 million or less in assets, where an organizations assets are determined by averaging the assets reported on its four quarterly financial statements for the preceding year. See 13 CFR
121.201 as amended by 84 FR 34261, effective August 19, 2019. In its determination, the SBA
counts the receipts, employees, or other measure of size of the concern whose size is at issue and all of its domestic and foreign affiliates. See 13 CFR
121.103. Following these regulations, the FDIC uses a covered entitys affiliated and acquired assets, averaged over the preceding four quarters, to determine whether the covered entity is small for the purposes of RFA.

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institution, or 2.5 percent of total noninterest expenses. The FDIC believes that effects in excess of these thresholds typically represent significant effects for FDIC-supervised institutions. For the reasons described below and under section 605b of the RFA, the FDIC
certifies that this rule will not have a significant economic impact on a substantial number of small entities.
As of June 30, 2020, the FDIC
supervised 3,270 depository institutions,21 of which 2,492 were considered small entities for the purposes of RFA.22 There are 33 State savings associations that are small entities for the purposes of RFA.23 This final rule rescinds 390.140 and 390.141. As discussed previously, these sections include definitions and crossreferences to other parts of section 390, so their rescission has no independent significance for institutions or borrowers, but rather is a technical amendment associated with the proposal to rescind subpart G of part 390 in its entirety.
As previously discussed, this final rule rescinds 390.142. This section has substantial overlap with the requirements of ECOA and Regulation B
and the FHA and HUDs FHA
regulations. Therefore, the FDIC
believes that these aspects of the final rule are unlikely to significantly affect small FDIC-supervised institutions or borrowers.
The final rule rescinds 390.143. As discussed previously, aspects of 390.143 are duplicative of prohibitions under the general fair lending laws.
With regard to 390.143b, the final 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 33 small 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 33
small State savings associations will 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 is likely to have substantive effects on small FDICsupervised institutions or borrowers.
As discussed previously, the final rule rescinds 390.144. Section 390.144a is 21 FDIC-supervised institutions are set forth in 12
U.S.C. 1813q2.
22 FDIC Call Report data, June 30, 2020.
23 Id.

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substantially similar to, and duplicative of, prohibitions under the general Federal fair lending laws.24 The FDIC
also believes that the requirement to post an Equal Housing Lender poster, discussed above in connection with 12
CFR 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 12 CFR
390.144b. Therefore, the FDIC believes that the rescission of 390.144 is unlikely to have any substantive effect on small FDIC-supervised institutions or borrowers.
As discussed previously, the final rule rescinds 390.145. Section 390.145 is substantially similar to 338.4 and the final 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 small FDIC-supervised institutions or borrowers.
As discussed previously, the final rule rescinds 390.146. The requirements of 390.146 are substantially similar to the requirements applicable to insured State nonmember banks under 338.4.
However, 338.4, unlike 390.146, does not include a recommendation that a Spanish-language version of the Equal Housing Lender poster be posted in offices serving areas with a substantial Spanish-speaking population. The FDIC
does make a Spanish-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 small covered institutions or borrowers.
The final rule rescinds 390.147. As previously discussed, 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 substantively affect small FDIC-supervised institutions or borrowers.
As previously discussed, the final rule rescinds 390.148. The FDIC believes that there is significant overlap between the requirements of 390.148ad and
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