Search for: "THE COMPTROLLER OF CURRENCY"
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7 Sep 2022, 1:54 pm
Reuters: “The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday. [read post]
6 Sep 2022, 12:21 pm
The bill would authorize the Office of the Comptroller of the Currency to charter and regulate national banks whose sole purpose is to issue stablecoins. [read post]
31 Aug 2022, 8:07 am
On August 10, 2022, four Senators, Elizabeth Warren (D-MA), Dick Durbin (D-IL), Sheldon Whitehouse (D-RI), and Bernie Sanders (I-VT), sent a letter to Acting Comptroller of the Currency Michael Hsu, asking him to reverse four interpretive letters regarding whether it is permissible for national banks to provide cryptocurrency services. [read post]
24 Aug 2022, 9:01 pm
On December 16, 2021, the Office of the Comptroller of the Currency (“OCC”) announced draft principles “designed to support the identification and management of climate-related financial risks with more than $100 billion in total consolidated assets,”[19] and the OCC requested feedback from market participants on all aspects of the draft principles to inform future guidance on climate-related financial risk. [read post]
24 Aug 2022, 5:01 am
Again, roughly similar language appears in HIPAA and in the safeguards rules for financial data adopted under the GLBA by the Comptroller of the Currency and other major bank regulators and, separately, by the Federal Trade Commission (FTC). [read post]
23 Aug 2022, 10:22 am
National banks and federal thrifts are supervised by the Office of the Comptroller of the Currency (OCC) and state-chartered banks that are members of the Federal Reserve System are supervised by the Federal Reserve Board (FRB). [read post]
18 Aug 2022, 7:19 am
In our discussion of regulatory challenges, we consider the continuing impact of “true lender” challenges on bank-nonbank partnerships, how regulators approach industry innovation, and whether regulators should face stronger challenges from industry (including what the SCOTUS EPA decision could mean for such challenges). [read post]
7 Aug 2022, 9:01 pm
The core elements of the Basel Principles align closely with proposed principles from the OCC and FDIC The Basel Principles1 align closely with the climate-related risk management principles proposed by the Office of the Comptroller of the Currency (the “OCC Proposal”)2 and the Federal Deposit Insurance Company (the “FDIC Proposal”).3 The Basel Principles are part of the Basel Committee on Banking Supervision’s (the BCBS or the… [read post]
1 Aug 2022, 12:07 pm
For instance, scenario analyses are part of the CFTC RFI reported above, as well as recent proposed principles by both the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). [read post]
1 Aug 2022, 9:38 am
Similar financial technology offices have been established by other financial regulators, including the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Consumer Financial Protection Bureau. [read post]
29 Jul 2022, 5:34 am
Amendments to the MLA in 2013 granted enforcement authority to the FTC and the other agencies specified in Section 108 of TILA, including the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency. [read post]
12 Jul 2022, 11:14 am
On July 6, the Financial Crimes Enforcement Network (“FinCEN”), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, “the Agencies”) issued a Joint Statement to “remind” banks that they, of course, should apply a risk-based approach to assessing customer relationships and conducting… [read post]
5 Jul 2022, 9:37 am
In response to a request from three Democratic House members, the GAO recently issued a report on its review of fair lending oversight conducted by the Office of the Comptroller of the Currency. [read post]
5 Jul 2022, 12:15 am
The appointee, a graduate of Georgetown University Law Center, had previously served as a Senior Attorney for several years at the Office of the Comptroller of the Currency. [read post]
30 Jun 2022, 11:27 am
On June 23, 2022, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (SRP) for spring 2022. [read post]
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]
