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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations various aspect of the EEOA. Further, 390.148e & f references multiple employment laws, including the EEOA, which if the rest of 390.148 were rescinded as proposed, would be unnecessary. Therefore, 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 390.149. 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 EEOC
regarding employment discrimination by FDIC-supervised institutions. This aspect of the final rule thus creates parity between State nonmember banks and State savings associations with respect to discriminatory complaints.
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.
As previously discussed, the final rule rescinds 390.150. This section contains guidelines intended to serve as a resource for State savings associations when developing and implementing nondiscriminatory lending policies.
Small 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 borrowers.
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 pose significant effects for small State savings associations because they 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 generally provides for all small insured State nonmember banks and State savings associations to be subject to the same nondiscrimination requirements.
The FDIC does not have data with which to estimate the costs that State
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savings associations currently incur to comply with subpart G or how those costs will change pursuant to this final rule. However, since this final rule affects only 33 small entities, and since the differences between subpart G and existing regulation and law are modest, the FDIC certifies that this final rule will not have a significant economic effect on a substantial number of small entities.
C. Plain Language Section 722 of the Gramm-LeachBliley Act 25 requires each Federal banking agency to use plain language in all of its proposed and final rules published after January 1, 2000. The FDIC has sought to present the final rule in a simple and straightforward manner and did not receive any comments on the use of plain language.
D. The Economic Growth and Regulatory Paperwork Reduction Act Under section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 EGRPRA, the FDIC is required to review all of its regulations, at least once every 10 years, in order to identify any outdated or otherwise unnecessary regulations imposed on insured institutions.26 The FDIC, along with the other Federal banking agencies, submitted a Joint Report to Congress on March 21, 2017
EGRPRA Report discussing how the review was conducted, what has been done to date to address regulatory burdens, and further measures the FDIC
will take to address issues that were identified.27 As noted in the EGRPRA
Report, the FDIC is continuing to streamline and clarify its regulations through the OTS rule integration process. By removing outdated or unnecessary regulations, such as part 390, subpart G, this final rule complements other actions that the FDIC has taken, separately and with the other Federal banking agencies, to further the EGRPRA mandate.
E. Riegle Community Development and Regulatory Improvement Act of 1994
Pursuant to section 302a of the Riegle Community Development and Regulatory Improvement Act RCDRIA,28 in determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions IDIs, each U.S.C. 4809.
Law 104208, 110 Stat. 3009 1996.
27 82 FR 15900 March 30, 2017.
28 12 U.S.C. 4802a.

Federal banking agency must consider, consistent with principles of safety and soundness and the public interest, any administrative burdens that such regulations would place on depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations. In addition, section 302b of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on IDIs generally to take effect on the first day of a calendar quarter that begins on or after the date on which the regulations are published in final form.29
As previously stated, the final rule removes part 390, subpart G, from the Code of Federal Regulations because, after careful review and consideration, the FDIC believes it is largely unnecessary, redundant, or duplicative of existing statutes and regulations. In addition, the final also includes amendments to the FDICs part 338 to make it applicable to State savings associations, introduce new definitions, and to make technical conforming edits.
These amendments do not impose any additional reporting, disclosure, or other requirements on IDIs. Because the final rule does not impose additional reporting, disclosure, or other new requirements on IDIs, section 302 of the RCDRIA does not apply.
F. Congressional Review Act For purposes of the Congressional Review Act, the Office of Management and Budget OMB makes a determination as to whether a final rule constitutes a major rule. If a rule is deemed a major rule 30 by the OMB, the Congressional Review Act generally provides that the rule may not take effect until at least 60 days following its publication.31
The Congressional Review Act CRA
defines a major rule as any rule that the Administrator of the Office of Information and Regulatory Affairs of the OMB finds has resulted in or is likely to result in A an annual effect on the economy of $100,000,000 or more; B a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies or geographic regions, or C significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreign
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