US OCC requiring banking institutions to place public notices in a newspaper of general circulation

Tonda Rush

Jan 5, 2021

The U.S. Office of the Comptroller of the Currency has reaffirmed the importance of newspaper public notice by boards of directors of federal mutual savings associations.

In December, it revised rules for mergers and acquisitions of certain banking institutions supervised by the OCC. It specifies that boards must operate under approved bylaws and must provide notice of their meetings in a newspaper of general circulation for two successive weeks in the week immediately prior to the meeting.

The newspaper must be in the city or county where the principal place of business is located. Service of notice to the public may also be done by mail 15-45 days before the meeting to all of its members.