The banking industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.
Caught off guard when the Office of the Comptroller of the Currency issued the proposal last week, industry trade groups are asking the OCC to extend the 45-day comment by another 30 days. The comment deadline is Jan. 4.
“The Associations and their member institutions are concerned that the existing comment deadline does not provide sufficient time to perform the level of analysis that this proposal warrants,” the Bank Policy Institute, American Bankers Association, Consumer Bankers Association and Financial Services Forum said in a joint letter to the OCC.
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