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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]
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]
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]
17 Nov 2018, 7:35 am
Otting (Office of the Comptroller of the Currency) authored by Congressman Meeks and joined by his New Democrat Coalition colleagues who serve on the House Committee on Financial Services. [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]
22 Apr 2021, 1:34 pm
The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). [read post]
4 May 2021, 11:01 am
The Office of the Comptroller of the Currency has filed a motion to dismiss the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in D.C. federal district court seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. [read post]
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]
14 Dec 2021, 11:37 am
In November, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board of Governors (“Board”) jointly issued a final rule that requires a federally regulated bank to notify its primary federal regulator within 36 hours after determining that a computer-security “notification incident” has occurred. [read post]
31 Aug 2017, 12:59 pm
On August 26, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and Conference of State Bank Supervisors (CSBS) issued a joint press release urging financial institutions in disaster areas to “work constructively with borrowers in communities affected by Hurricane Harvey. [read post]
1 Jun 2020, 11:26 am
On Brian Brooks’ first day as Acting Comptroller of the Currency, the OCC issued a final rule intended to resolve the legal uncertainty created by the Second Circuit’s decision in Madden v. [read post]
23 Nov 2021, 12:00 am
On November 18, 2021, the US federal banking regulators Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation jointly announced a final rule that will require banking organizations (which includes the U.S. operations of foreign banking organizations) to notify their regulators as soon as possible but no later than 36 hours of identifying a significant “computer-security incident” that results in… [read post]
1 Jul 2020, 8:52 am
The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration. [read post]
12 Jul 2022, 11:14 am
On July 6, the Financial Crimes Enforcement Network (“FinCEN”), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, “the Agencies”) issued a Joint Statement to “remind” banks that they, of course, should apply a risk-based approach to assessing customer relationships and conducting… [read post]
9 Jul 2015, 11:52 am
Text of Comptroller's Statement below. [read post]
9 Jun 2015, 6:13 am
On Thursday, May 21, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued a notice of proposed rulemaking (the “Proposal”) that would amend the final rule implementing a liquidity coverage ratio (“LCR”) requirement (the “Final LCR Rule”), [1] jointly adopted last September by the Federal Reserve, the Office of the Comptroller of the Currency (“OCC”), and the Federal Deposit Insurance… [read post]
27 Jun 2023, 8:27 am
As reported in a Hunton Client Alert last week, on June 6, 2023, the Federal Deposit Insurance Corporation (“FDIC”), the Board of Governors of the Federal Reserve System (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) (collectively, the “Agencies”) issued final guidance on managing risks associated with third-party relationships, including relationships with fintechs (the “Final… [read post]
16 Dec 2010, 2:03 pm
BofA will also make payments to the Office of the Comptroller of the Currency and the Internal Revenue Service. [read post]
7 Aug 2022, 9:01 pm
The core elements of the Basel Principles align closely with proposed principles from the OCC and FDIC The Basel Principles1 align closely with the climate-related risk management principles proposed by the Office of the Comptroller of the Currency (the “OCC Proposal”)2 and the Federal Deposit Insurance Company (the “FDIC Proposal”).3 The Basel Principles are part of the Basel Committee on Banking Supervision’s (the BCBS or the… [read post]
21 May 2009, 6:18 am
(Though we hear that the Comptroller of the Currency is considering a new rule that would allow customers to carry bazookas into national banks. [read post]
