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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
Shortly after Associate Director Evangelista’s speech, Acting Comptroller of the Currency Michael J. [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 respective statements accompanying the proposed guidance, Acting Comptroller Michael J. [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]
15 Mar 2022, 9:09 am
Within hours of the release of the two California decisions, the Acting Comptroller of the Currency issued a warning about abuses of the OCC’s Madden-fix rule in which he stated that “[t]he OCC is committed to strong supervision that expands financial inclusion and ensures banks are not used as a vehicle for “rent-a-charter” arrangements. [read post]
14 Mar 2022, 7:47 am
At the same time that the DOJ and SEC were pursuing their own crypto strategies, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency conducted a series of interagency “policy sprints” focused on crypto assets.[7] Their goal was to analyze the applicability of existing regulations to crypto activities and establish a road map for further guidance. [read post]
10 Mar 2022, 7:53 am
The actions contemplated by the Order include an assessment of the possible benefits and risks of launching a U.S. central bank digital currency (CBDC). [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]
28 Feb 2022, 12:26 pm
In addition to the CFPB, the other agencies required to engage in the rulemaking are the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Federal Reserve Board and National Credit Union Administration. [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]
15 Feb 2022, 10:12 am
The joint revision is expected from the Fed, Comptroller, and FDIC. [read post]
10 Feb 2022, 11:54 am
Within hours of the release of Judge White’s decisions, Acting Comptroller of the Currency Hsu issued the following warning about abuses of the OCC’s Madden-fix rule: Today, the district court affirmed the validity of the OCC’s rule, which provides that when a national bank or state or federal savings association sells, assigns, or otherwise transfers a loan, the interest permissible before the transfer continues to be permissible after the transfer. [read post]
