Answer:
A Notice of Proposed Rule Making is the process wherein a regulatory agency puts out a new regulation or suggests revisions to an existing one. In it, they explain what they want to do and why, and invite comment back from anyone on their ideas. They decide how long to keep open a comment period. After that, the regulatory agency will read over every single comment – from banks, community groups, Joe Public – and decide what they want to do for a final rule.
Want to find out how NPRMs impact the compliance officer’s job, and how they can have a hand in what final rule says? Tune into the upcoming webinar “The Anatomy of Compliance Research – Stop Stumbling Through the Maze of Laws and Regs to Find the Answer!” on January 12, 2023!
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Learn more about Rebekah Leonard’s The Anatomy of Compliance Research – Stop Stumbling Through the Maze of Laws and Regs to Find the Answer!
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