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5 Mar 2014, 11:39 am
Most banking experts would agree that the Office of the Comptroller of the Currency (OCC) is the most captured of the banking agencies. [read post]
11 Sep 2018, 2:13 pm
Late last month, the US federal banking agencies (the Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), collectively, the “banking agencies”) issued an interim final rule that implements section 403 of the recently enacted “Economic Growth, Regulatory Relief, and Consumer Protection Act” (the “Act”), to allow certain banking organizations to use municipal obligations to… [read post]
5 Jun 2020, 12:42 pm
On June 2, 2020, the Office of the Comptroller of the Currency (“OCC”) published a final rule clarifying the permissible interest rates on transferred loans in relation to the “valid-when-made” doctrine. [read post]
2 Apr 2020, 7:53 am
After industry groups stressed the need to adopt regulatory changes in light of the COVID-19 pandemic, on March 27, 2020, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency (collectively, the “Banking Agencies”) issued a joint press release announcing an interim final rule (the “interim final rule”) allowing banks to delay the effects of the current expected credit loss… [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]
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]
2 May 2007, 9:20 am
Kyle Condra, a 7-page, 5-0 opinion, with a long list of amicus attorneys on the heading from the Office of the Comptroller of the Currency, Justice Boehm writes:We hold that the preparation of mortgage documents by non-attorneys does not necessarily constitute the practice of law and that a lender's charging a fee for the preparation does not convert it into the unauthorized practice of law.The facts here are:In 2003, Condra filed a class action against Charter One. [read post]
14 Sep 2014, 6:00 am
On September 2, 2014, the Office of the Comptroller of the Currency (“OCC”) finalized its risk governance framework for large banks and thrifts (“Guidelines”) that was proposed in January 2014. [1] The Guidelines formalize the heightened risk management standards that the OCC has been communicating through the supervisory process for several years, but do so somewhat more flexibly than the January proposal (“proposal”) did. [read post]
3 Feb 2014, 6:09 am
Earlier this evening [January 14, 2014], the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency (the “OCC”), Federal Deposit Insurance Corporation (such three agencies together, the “Banking Agencies”), Securities and Exchange Commission, and Commodity Futures Trading Commission (the “CFTC” and, collectively, the “Agencies”) issued an interim final rule (the “Interim Final Rule”)… [read post]
2 Jan 2020, 11:30 am
Germain Act and the Office of the Comptroller of the Currency (OCC). [read post]
16 Nov 2014, 6:00 am
In a flurry of regulatory actions on October 21 and 22, 2014, the Federal Deposit Insurance Corporation (the “FDIC”), the Office of the Comptroller of the Currency, the Federal Reserve Board, the Securities and Exchange Commission, the Federal Housing Finance Agency (the “FHFA”), and the Department of Housing and Urban Development (collectively, the “Joint Regulators”) each adopted a final rule (the “Final Rule”) implementing the… [read post]
9 May 2014, 3:00 am
Additional Sources: Consumer Financial Protection Bureau Bulletin 2013-10; Comptroller of the Currency, Payroll Cards: An Innovative Product for Reaching the Unbanked and Underbanked (June 2005) [read post]
27 Nov 2012, 7:58 am
Prior to joining Reed Smith, Travis was an Enforcement Counsel with the Office of the Comptroller of the Currency, U.S. [read post]
27 Mar 2014, 6:19 am
Further complicating matters, a senior official of the Office of the Comptroller of the Currency (“OCC”) recently expressed alarm about banks working with alternative asset managers or shadow banks on “weak” leveraged lending deals. [read post]
31 May 2023, 1:44 pm
Senate Bill 2334, and House Bill 4903 propose to: (1) Establish a new gold and silver based digital currency through the office of the Texas Comptroller of Public Accounts; (2) Back each unit of issued digital currency with a corresponding fraction of a troy ounce of gold or silver held in trust; (3) Allow for individual accounts to be created at the Texas Bullion Depository that could be used to conduct transactions. [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]
21 Apr 2020, 12:46 pm
In November 2019, the financial services regulators responsible for the Volcker Rule regulations (the Board of Governors of the Federal Reserve Board, the Office of the Comptroller of the Currency, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation and the Securities and Exchange Commission, collectively, the “Agencies”) issued final rules revising the proprietary trading restrictions placed on certain banking entities (the “2019… [read post]
23 Sep 2019, 4:15 pm
On September 18, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board), the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Commodity Futures Trading Commission (collectively, the Agencies) adopted amendments to the 2013 rules (the 2013 Rules) under Section 13 of the Bank Holding Company Act (BHC), commonly known as the Volcker Rule (the 2019 Amendments). [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]
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]
