Search for: "Office of the Comptroller of the Currency Compliance Management"
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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]
19 Jul 2011, 1:59 pm
On June 29, 2011, the Office of the Comptroller of the Currency (OCC) issued a bulletin to national banks focusing on their obligation to assess and manage the risks associated with what the OCC calls prepaid access programs. [read post]
7 Jan 2021, 7:44 am
On January 4, 2021, the Office of the Comptroller of the Currency (“OCC”) published an Interpretive Letter clarifying the authority of national banks and federal savings associations to participate in independent node verification networks (“INVN”) and use stablecoins to conduct payment activities and other bank-permissible functions. [read post]
14 Dec 2018, 3:51 pm
On December 3, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Financial Crimes Enforcement Network (“FinCEN”), (collectively, the “Agencies”) issued a joint statement (“Joint Statement”) urging banks to consider, evaluate and potentially implement innovative approaches to meet the Bank… [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]
6 Jan 2021, 8:27 am
The Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1174 on January 4, 2021, clarifying the authority of national banks and federal savings associations to buy, sell, and issue stablecoins and participate in independent node verification networks (INVNs) in order to conduct payment activities and other bank-permissible functions. [read post]
23 Sep 2020, 7:55 am
On Monday, September 21, 2020, the Office of the Comptroller of the Currency (“OCC”) issued an interpretive letter on the authority of national banks and federal savings associations to hold stablecoin reserves (the “OCC Interpretive Letter”). [read post]
5 Sep 2023, 4:30 am
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency issued final guidance June 6, 2023, on managing risks associated with third-party relationships. [read post]
13 Nov 2023, 9:01 pm
On October 24, 2023, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the “Agencies”) released their final Principles for Climate-Related Financial Risk Management for Large Financial Institutions (the “Climate Principles”). [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]
31 Jul 2020, 11:03 am
Banking regulators took a significant step toward the mainstreaming of cryptocurrency recently when the Office of the Comptroller of the Currency (OCC) provided guidance about how a bank can provide custody services for cryptocurrency. [read post]
9 Oct 2018, 6:10 am
Five U.S. regulatory agencies—the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the U.S. [read post]
6 Mar 2020, 5:10 pm
Bank was subjected to a fine of $185 million in February 2018, pursuant to an enforcement action by FinCEN, in coordination with the Office of the Comptroller of the Currency (OCC) and the U.S. [read post]
24 Aug 2017, 11:34 am
On August 21, 2017, the Office of the Comptroller of the Currency (OCC) published Bulletin 2017-28 regarding higher-loan-to-value (LTV) lending programs (the “Bulletin”). [read post]
17 Apr 2015, 9:16 am
The latest big bank to kick the Compliance 1.0 model to the curb, Bank of America Corp., did so with the help of its regulator, the Office of the Comptroller of the Currency. [read post]
5 Jun 2024, 9:01 pm
On May 6, 2024, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Federal Housing Finance Agency re-proposed their joint rule to implement Section 956 of the Dodd-Frank Act, which requires federal financial regulators to prohibit, at any financial institution with consolidated assets of at least $1 billion, incentive-based compensation that encourages inappropriate risks. [read post]
26 Aug 2020, 10:23 am
On August 13, 2020, the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency (the “Agency” or collectively the “Agencies”) issued a joint statement updating and clarifying their 2007 guidance regarding how they evaluate enforcement actions when financial institutions violate or fail to meet BSA/AML requirements. [read post]
9 Jul 2015, 11:52 am
Text of Comptroller's Statement below. [read post]
27 Nov 2017, 7:39 am
In an update to its Policies and Procedures Manual (PPM), the Office of the Comptroller of the Currency (OCC) has revised PPM 5310-3, “Enforcement Action Policy,” dated September 9, 2011. [read post]
13 Mar 2020, 1:00 am
Department of Justice (“DOJ”), the Office of the Comptroller of the Currency (“OCC”) and the Federal Reserve for a combined $613 million in financial penalties—marks the first time FinCEN has imposed a penalty on a bank compliance officer for his role in failing to prevent BSA/AML compliance program failures. [read post]
