Fed to roll out new bank application filing system at the end of October

Bank Regulatory Federal Issues Federal Reserve

On October 6, the Federal Reserve Board announced that the current bank application filing system will be replaced with a new, upgraded cloud-based system known as FedEZFile later this month. The Fed stated that while the substantive requirements of the applications will remain the same, the new system will make the filing process more intuitive. Paper applications and communications will also be minimized. Under the system, applicants will be provided real-time status tracking, two-way messaging, and the ability to digitally sign documents. A webinar on the new system is forthcoming.