By the Division of Banks


Regulation Review Informational Session:

Notice of Meeting on Thursday, August 13, 2015

 

The Division of Banks (Division) is considering whether to retain, repeal or make changes to the regulations listed below.

The review of the regulations will be conducted in connection with Executive Order 562 issued by Governor Baker on March 31, 2015.  The purpose of Executive Order 562 is to reduce unnecessary regulatory burden where possible. 

In advance of considering changes and implementing the formal regulatory amendment process, the Division welcomes interested members of the public to attend an informational session to provide input on possible changes that the Division could consider in light of Executive Order 562.

The session will be held as follows:

When:             Thursday, August 13, 2015
Time:               9:30 a.m.-12:00 p.m.

Where:            1000 Washington St., Hearing Room 1-E, Boston, MA  02110

In addition, written comments may be submitted to the Massachusetts Division of Banks, 1000 Washington St., 10th Floor, Boston, MA  02118-6400 or at dob.comments@state.ma.us until 5:00 p.m. on Friday, August 21, 2015.

Specific questions about this process or the nature of this session should be directed to Merrily S. Gerrish, Deputy Commissioner of Banks and General Counsel, at 617-956-1520.  Please note that this session is in addition to any public hearing required by the formal rulemaking process, which would be held at a later date, if applicable.

Following is a list of the Division’s regulations to be reviewed:

Specific input is requested on the following questions and other relevant testimony and comments are invited:

  • What could improve the clarity of the regulations?
  • Do any of the regulations impose unnecessary burdensome reporting, recordkeeping, or disclosure requirements? 
  • Have there been changes in the financial services industry, consumer behavior, or other circumstances that cause any regulations to be outdated, unnecessary, or unduly burdensome?
  • Do you believe the scope of each regulation is consistent with the intent of the underlying statute?  In addition, please provide comments for potential amendments to reduce regulatory burden while remaining faithful to the statutory intent.
  • Additional comments and testimony, including specific recommendations, are welcome.