Search for: "Office of the Comptroller of Currency"
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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]
2 Oct 2010, 6:33 am
The “robo-signing” controversy over lenders’ allegedly lax foreclosure procedures is picking up momentum, with the Office of Comptroller of the Currency ordering the nation’s largest lenders to review their foreclosure processes. [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]
11 May 2017, 7:45 am
As the battle over the Office of the Comptroller of the Currency (OCC)’s proposed financial technology (“fintech”) charter continues, investors in fintech companies should consider what it would mean for their business strategies if fintech companies actually did become banks. [read post]
6 May 2021, 7:21 pm
Senate and House of Representatives have jointly proposed overturning the Trump Administration’s “True Lender” final rule (the “True Lender Rule”), as published by the Office of the Comptroller of the Currency (the “OCC”) on October 30, 2020 and effective December 29, 2020. [read post]
1 Dec 2022, 9:29 am
The Office of the Comptroller of the Currency (OCC) has revised its civil money penalty (CMP) manual and will begin using the revised manual on January 1, 2023. [read post]
1 Oct 2018, 8:30 am
The Federal Banking Agencies (“FBAs”) — collectively the Office of the Comptroller of the Currency (“OCC”); the Board of Governors of the Federal Reserve System (“Federal Reserve”); the Federal Deposit Insurance Corporation (“FDIC”); and the National Credit Union Administration (“NCUA”) — just issued with the concurrence of FinCEN an Order granting an exemption from the requirements of the… [read post]
29 Apr 2013, 11:57 am
RosenblumLast Thursday, the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation proposed guidance on deposit advance loans. [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]
6 Aug 2014, 2:34 pm
FisherAs noted in our recent Alert, the Office of the Comptroller of the Currency (OCC) has issued Bulletin 2014-37 on Consumer Debt Sales (the “Bulletin”). [read post]
22 Dec 2020, 11:06 am
The Chief Counsel of the Office of the Comptroller of the Currency has issued Interpretive Letter 1173, addressing national bank and federal savings association preemption of state law under the Dodd-Frank Act. [read post]
12 Oct 2011, 7:59 am
As you may recall, most of the major lenders entered into a consent order with the Office of Comptroller of Currency and the Fed to avoid being sued for servicing fraud. [read post]
29 Nov 2018, 2:08 pm
On November 21, 2018, the Office of the Comptroller of the Currency (the “OCC”), the Board of Governors of the Federal Reserve System (the “Board”), and the Federal Deposit Insurance Corporation (the “FDIC”) (collectively, the “Federal Banking Agencies” or the “Agencies”) jointly issued a notice of proposed rulemaking (the “NPR” or the “Proposal”) that would provide for an optional,… [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]
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]
8 Dec 2014, 2:03 pm
In January 2013, the Office of the Comptroller of the Currency (the “OCC”) levied civil money penalties against five directors and officers of Security Bank for up to $20,000 per person in connection with violations including failure to ensure an effective BSA compliance and suspicious activity reporting (“SAR”) system. [read post]
3 Jun 2017, 8:45 am
Finally, in the lightning round, Alan tells us about the recent surge in the price of bitcoin and other cryptocurrencies; Matt tell us about the future of leadership at the Commodity Futures Trading Commission and gives us an update on the Office of the Comptroller of the Currency’s proposed Fintech Charter, including a lawsuit by state regulators to head off this initiative. [read post]
5 Jul 2007, 7:28 am
§ 656 does not criminalize making a loan to an uncreditworthy individual even where bank officer making the loan derives personal benefit.(2) Where negotiated memorandum of understanding between bank and Office of Comptroller of Currency stated that acquisition or sale of any fixed assets owned by bank involving more than $2,500 "should" require prior board of directors approval, and defendant attempted to sell bank's building without… [read post]
19 Sep 2016, 10:00 am
Wells Fargo will also pay another $85 million in penalties to the Office of the Comptroller of the Currency and the City of Los Angeles. [read post]
24 May 2018, 7:20 pm
The Office of Comptroller of the Currency put out a Bulletin this week encouraging banks to make short-term small-dollar installment loans to their customers—basically bank payday loans. [read post]
