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22 Jun 2022, 9:01 pm
First, the bill calls for a narrow pathway to exempt from taxation gains or losses under $200 in a taxpayer’s virtual currency when such virtual currency is used to pay for goods or services (which would otherwise generally trigger any built-in gain or loss). [read post]
22 Jun 2022, 1:15 pm
As we previously reported, the Office of the Comptroller of the Currency (“OCC”) rescinded its 2020 Community Reinvestment Act (“CRA”) final rule (the “2020 CRA Final Rule” or the “Rescinded Rule”) in December 2021 and has since been operating under a CRA framework largely based on the OCC’s 1995 CRA rule (the “1995 Rule”), which was adopted jointly with the Federal Reserve and the FDIC. [read post]
19 Jun 2022, 5:08 am
“Court dockets in this district overflow with Freedom of Information Act (FOIA) matters. [read post]
16 Jun 2022, 2:40 pm
The Treasury’s Office of the Comptroller of the Currency posted its notice in the Federal Register indicating that it plans to keep tabs on cannabis companies as part of its regular yearly filings required of banks. [read post]
10 Jun 2022, 4:00 am
Still other states have adopted no specific policies around digital currency donations. [read post]
6 Jun 2022, 4:27 pm
” Office of the Comptroller of the Currency On May 24, the acting Comptroller of the Currency, Michael Hsu remarked at the DC Blockchain Summit 2022 on the “deep” vulnerabilities of cryptocurrency in light of the recent market volatility and other events in the crypto economy. [read post]
31 May 2022, 9:06 am
In his remarks, Acting Comptroller Hsu described the approach taken by the Office of the Comptroller of the Currency (“OCC”) to cryptocurrency to ensure the safety and soundness of the federal banking system. [read post]
31 May 2022, 5:44 am
The Office of the Comptroller of the Currency found that the Wells Fargo board had known about fudged sales numbers for eleven years before the scandal broke. [read post]
31 May 2022, 5:44 am
The Office of the Comptroller of the Currency found that the Wells Fargo board had known about fudged sales numbers for eleven years before the scandal broke. [read post]
18 May 2022, 2:29 pm
After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA. [read post]
17 May 2022, 8:02 am
Office of the Comptroller of the Currency On April 1, 2022, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve Board implemented a rule requiring banking organizations to notify their primary federal regulator after an incident affecting or disrupting bank operations is discovered “as soon as possible and no later than 36 hours. [read post]
10 May 2022, 1:32 pm
” That same day, the Office of the Comptroller of the Currency (OCC) announced a $60 million civil money penalty against USAA based on the same AML violations. [read post]
28 Apr 2022, 5:04 pm
In 2005, the federal prudential regulators—including the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC)—issued Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice. [read post]
25 Apr 2022, 7:52 am
The Office of the Comptroller of the Currency entered into a Consent Order with Anchorage Digital Bank (“Anchorage”), which requires Anchorage to create a compliance committee and take steps to remediate alleged shortcomings with respect to the implementation and effectiveness of Anchorage’s Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) program. [read post]
21 Apr 2022, 9:01 pm
In the banking sector, the Office of the Comptroller of the Currency (OCC)[8] and the Federal Deposit Insurance Corporation (FDIC)[9] have released substantially the same proposed principles for climate-related financial risk management, which are designed to provide large banking institutions (those with over $100 billion in total consolidated assets) subject to their respective regulation with a high-level framework for managing climate-related financial risks. [read post]
13 Apr 2022, 9:10 pm
The Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation should take two main steps to accomplish this goal. [read post]
4 Apr 2022, 9:01 pm
Thank you. [read post]
14 Mar 2022, 7:47 am
Attorneys’ Offices, and the FBI. [read post]
9 Mar 2022, 9:03 am
Monetary authorities globally are also exploring, and in some cases introducing, central bank digital currencies (CBDCs). [read post]
24 Feb 2022, 6:39 am
The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency will also consider market protection measures. [read post]
