The Ohio Division of Financial Institutions Unveiled Proposed Rules for Banks, Feedback Needed!

01/15/25

The Ohio Division of Financial Institutions recently released a set of proposed rules for Ohio state-chartered banks. After an initial review, the changes do not appear to contain negative changes, but OBL needs banker feedback on the changes and if they have an impact on your institution. Additionally, if there are pain points with the current rules as they are written, please contact OBL General Counsel Don Boyd and OBL can work to address the changes since the rules will be opened for review. The proposed rules can be found by clicking HERE.

Below is the information from the notice sent out by DFI:

 

Good Day!

The purpose of this email is to give stakeholders an opportunity to provide preliminary feedback on proposed changes to Ohio Administrative Code Chapters 1301:1, relating to Ohio chartered banks, which are undergoing a five-year rule review. You are receiving this email because you have been identified as one of the Division’s primary points of contact for an Ohio chartered bank. Please review the current draft of the rules that the Division intends to amend.

Your bank should feel free to offer commentary or feedback to the Division by emailing John Coady, Assistant Division Counsel, at John.Coady@com.ohio.gov. Please send commentary no later than January 31, 2025. Thank you for taking the time to review these administrative rules. Your input is appreciated as we move forward with the process.

Future Proposed Rules

To receive future notifications of proposed rules by the Division of Financial Institutions, please visit: https://governor.ohio.gov/priorities/common-sense-initiative/enotifications.

The proposed rules are also available at www.registerofohio.state.oh.us and on the Ohio Department of Commerce's website at https://com.ohio.gov/divisions-and-programs/financial-institutions/about-financial-institutions/proposed-rules.

Sincerely,

Ohio Department of Commerce
Division of Financial Institutions