Authority for Certain Savings and Loan Holding Companies To Engage in Financial Activities

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The Office of Thrift Supervision (OTS) is proposing to revise its regulations to clarify what financial activities are authorized for certain savings and loan holding companies (SLHCs) after the Gramm- Leach-Bliley Act (GLBA). Additionally, this proposed rule explains how the conditions the Federal Reserve Board (FRB) imposes on financial holding companies (FHCs) would apply to those SLHCs, outlines the process OTS would use to review activities that are complementary to financial activities, and removes certain obsolete and redundant provisions.