The Office of Thrift Supervision has streamlined its deposit rules by dropping several reporting requirements.

Under the new rule, which takes effect Jan. 1, thrifts will no longer be required to provide written receipts when customers make deposits. In addition, the OTS eliminated several long-standing requirements that have been duplicated by Truth-in-Savings rules. The rule also clarifies that thrifts may keep deposit records electronically, rather than on paper.

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