Search for: "Office of the Comptroller of the Currency"
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13 Aug 2019, 2:11 pm
For preneed trusts, the Office of the Comptroller of the Currency had issued due diligence guidelines in April 2000. [read post]
9 Aug 2019, 8:21 am
On July 31, 2019, the Office of the Comptroller of the Currency (the “OCC“) released OCC Bulletin 2019-40 (the “Bulletin”) detailing guidelines for national banks, federal savings associations and federal branches of foreign banking organizations subject to the Community Reinvestment Act (the “CRA”) requesting designation as a wholesale or limited purpose bank under the CRA or otherwise requesting confirmation as a special purpose bank… [read post]
29 Jul 2019, 3:55 pm
On July 22, the Federal Reserve Board, FDIC, Office of the Comptroller of the Currency (OCC), National Credit Union Administration (NCUA) and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) released a joint statement outlining the agencies’ risk-based approach to examining banks’ BSA/AML compliance programs. [read post]
22 Jul 2019, 3:08 pm
On July 21, 2017, the Federal Reserve Board, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation (the “US Banking Agencies”), issued a joint Statement indicating that they were coordinating their review of the applicability of the Volcker Rule to certain non-US funds and said that no enforcement action would be taken with respect to those funds until after July 21, 2018. [read post]
15 Jul 2019, 3:32 pm
On July 9, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission (collectively, the Agencies), announced that it had finalized a February 2019 proposed rule to make two amendments to the Volcker Rule that had been mandated by the May 2018 Economic Growth, Regulatory Relief, and Consumer… [read post]
15 Jul 2019, 2:18 pm
On July 9, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC) and the Securities and Exchange Commission (SEC) adopted a final rule that excludes community banks from the Volcker Rule, which restricts banking entities from engaging in proprietary trading and from owning, sponsoring or having certain relationships with hedge funds or private… [read post]
9 Jul 2019, 12:57 pm
Under the final rule, which is unchanged from the proposal, community banks with $10 billion or less in total consolidated assets and total trading assets and liabilities of 5 percent or less of total consolidated assets are excluded from the Volcker Rule.The final rule also permits a hedge fund or private equity fund, under certain circumstances, to share the same name or a variation of the same name with an investment adviser as long as the adviser is not an insured depository institution, a… [read post]
19 Jun 2019, 8:37 am
The senators sent those letters to the Office of the Comptroller of the Currency as well as the Farm Credit Administration, the Federal Reserve System and the U.S. [read post]
19 Jun 2019, 7:37 am
Next month it will be one year since the Office of the Comptroller of the Currency started offering a special-purpose national bank charter to fintech firms that don’t take deposits, but a big question mark hanging over the project remains the Fed’s willingness to extend to these charter holders the same payment and settlement services it provides to regular banks. . . . [read post]
18 Jun 2019, 9:36 pm
On June 6, 2019, the US federal banking agencies (the Federal Reserve Board (FRB), Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, collectively, the “banking agencies”) published a permanent final rule regarding banking organizations being able to use municipal obligations to satisfy their bank’s liquidity cover ratio (LCR) requirements. [read post]
12 Jun 2019, 8:49 am
The Board of Governors of the Federal Reserve System has recently indicated it may move forward with enhanced cybersecurity standards that had previously been floated by the Board, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) back in 2016. [read post]
10 Jun 2019, 2:05 pm
The Office of the Comptroller of the Currency (OCC) announced that the deadline to comply with Dodd-Frank Act Stress Test (DFAST) requirements will be extended to November 25, and thereafter will be discontinued. [read post]
3 Jun 2019, 3:35 pm
On May 24, the Office of the Comptroller of the Currency (OCC) issued a final rule permitting federal savings associations with total consolidated assets of $20 billion or less to elect to operate as “covered savings associations” with the rights and privileges of national banks. [read post]
24 May 2019, 3:00 am
Building a solid defense against such intrusions is becoming another, a U.S. financial regulator said Monday.U.S. banks are having a hard time recruiting and retaining compliance professionals, particularly those who specialize in financial crimes, the Office of the Comptroller of the Currency said in a semiannual report on the risks facing lenders. [read post]
16 May 2019, 11:41 am
The Office of the Comptroller of the Currency (OCC) has opened its own “sandbox” through a Proposed Innovation Pilot Program (Program) designed to promote its innovation initiatives, add value through proactive supervision, and continue its objective to lead fintech innovation expansion. [read post]
8 May 2019, 11:36 am
Mirroring that advice is the Semiannual Risk Review for Fall 2017 from the Office of the Comptroller of the Currency (OCC). [read post]
15 Apr 2019, 11:44 pm
That meant that the Hearing Officer had been wrong to adopt the narrower meaning. [read post]
11 Apr 2019, 9:05 am
The Office of the Comptroller of the Currency also issued Bulletin 2019-19 that addresses the revised examination guidelines. [read post]
29 Mar 2019, 7:12 am
., and included Brett Redfearn, director of the SEC Division of Trading and Markets; Bob Colby, chief legal officer at FINRA; Morris Morgan, senior deputy comptroller and chief operating officer at the Office of the Comptroller of the Currency; and Dick Walker, partner at King & Spalding. [read post]
20 Mar 2019, 6:30 am
Office Of Comptroller Of Currency (OCC) Guidance To Banks Banking Circulars issued by the Office of Comptroller of Currency (“OCC”) provide guidance to national banks. [read post]
