Search for: "Office of the Comptroller of the Currency"
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15 Mar 2023, 4:20 am
In March 2011, the SEC and six other regulators that included the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision jointly published proposed rules with a 45-day comment period. [read post]
14 Mar 2023, 6:01 pm
The FDIC formed Deposit Insurance National Bank of Santa Clara (DINB) (chartered by the Office of the Comptroller of the Currency) and immediately transferred to DINB all insured deposits of SVB. [read post]
10 Mar 2023, 8:17 am
Senators Warn Regulators on Zelle Fraud RisksPYMNTS – March 3, 2023 In a letter addressed to the Federal Reserve, the FDIC, the National Credit Union Administration and the Office of the Comptroller of the Currency, the senators warned that Zelle’s “model has opened the door to fraud and scams on a tremendous scale. [read post]
8 Mar 2023, 12:19 pm
Approvals were extended by the Office of the Comptroller of the Currency ... [read post]
8 Feb 2023, 5:16 am
The latter bombing—broadcast live on television—killed three and maimed or wounded hundreds, and the defendant and his brother also murdered a police officer three days later while on the lam. [read post]
1 Feb 2023, 12:22 pm
Bank of America has been fined $100 million by the CFPB and $125 million by the Office of the Comptroller of Currency for massive failures in carrying out its contracts with 12 states to provide unemployment payments and other public benefits during the pandemic. [read post]
22 Jan 2023, 9:01 pm
U.S. federal and state banking regulators’ proposed guidance on climate-related financial risk management: The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve have each proposed a set of substantially similar principles for climate-related financial risk management for large financial institutions (i.e., those with over $100 billion in total consolidated assets) over the course of the past 12 months. [read post]
10 Jan 2023, 12:33 pm
Sterling Bank and Trust: On September 27, 2022, the Office of the Comptroller of the Currency (OCC) issued a $6 million penalty against Sterling Bank and Trust for failing to meet its BSA obligations while evaluating mortgage loan applications, many of which contained false or fraudulent information. [read post]
6 Jan 2023, 4:06 pm
They argue that a major cause of the 2007 mortgage crisis was the 2004 decision by the Office of the Comptroller of the Currency to exempt national banks from a host of state consumer-protection laws under the National Bank Act, and that Dodd-Frank in response codified a 1996 decision by the Supreme Court permitting states to regulate national banks under the National Bank Act as long as they do not “significantly interfere” with the banks’ federal… [read post]
6 Jan 2023, 10:00 am
The Office of the Comptroller of Currency (OCC) has issued new guidance to ensure that financial institutions use digital currency safely. [read post]
5 Jan 2023, 9:05 pm
” The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint statement highlighting concerns—such as high levels of fraud risk—around banking currencies and crypto-assets. [read post]
5 Jan 2023, 11:33 am
The Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued a joint statement on crypto-asset risks to banking organizations. [read post]
4 Jan 2023, 1:08 pm
“The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector,” the regulators said in a joint statement from the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. [read post]
4 Jan 2023, 1:08 pm
“The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector,” the regulators said in a joint statement from the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. [read post]
4 Jan 2023, 4:29 am
In the joint statement, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency told financial institutions to be wary of potential fraud, legal uncertainty, and misleading disclosures by digital asset firms. [read post]
9 Dec 2022, 7:03 am
In recent remarks at the CRA & Fair Lending Colloquium, Grovetta Gardineer, Senior Deputy Comptroller for Bank Supervision Policy at the Office of the Comptroller of the Currency, discussed the OCC’s current fair lending initiatives. [read post]
4 Dec 2022, 5:20 am
A governmental misconduct exception certainly exists, and is needed, in civil litigation where the motive or intent of a government actor is legitimately put into question, see, Subpoena Duces Tecum Served on the Office of the Comptroller of the Currency, 145 F.3d 1422, 1424-25 & n.2 (D.C. [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]
29 Nov 2022, 4:13 am
Subpoena Duces Tecum Served on the Office of the Comptroller of the Currency, 145 F.3d 1422, 1424-25 & n.2 (D.C.Cir. 1998)(“[i]f the plaintiff’s cause of action is directed at the government’s intent, however, it makes no sense to permit the government to use the [deliberative process] privilege as a shield”). [read post]
9 Nov 2022, 12:15 am
Some readers may recall that two years ago the Office of the Comptroller of the Currency adopted a "true lender" rule. [read post]
