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22 Jan 2021, 8:50 pm
US: draft Article 11 EMIR equivalence decision for US Prudential Regulators recognises the legal, supervisory and enforcement arrangements of the US for the exchange of collateral that apply to transactions regulated as ‘swaps’ as defined in section 721 of the Dodd-Frank Act or ‘security-based swaps’ as defined in section 761 of the Dodd-Frank Act and that are not cleared by a central counterparty as equivalent to the requirements of Article 11(3) EMIR, where at least one of… [read post]
18 May 2023, 9:05 pm
Congress to move bank regulation authority from the Federal Reserve to agencies that specialize in regulation, such as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. [read post]
1 Mar 2017, 8:36 am
(i) For purposes of this contract, the term “Institutional Lender” shall mean any bank, savings bank, private banker, trust company, savings and loan association, credit union or similar banking institution whether organized under the laws of this state, the United States or any other state, foreign banking corporation licensed by the Superintendent of Banks of New York or regulated by the Comptroller of the Currency to transact business in New York State; insurance… [read post]
8 Mar 2012, 3:00 am
The plaintiffs responded that the Bank had not acted in good faith: it had, for example, not turned over suspicious activity reports it was required to file with the government, nor did it turn over documents it had previously turned over to the Office of the Comptroller of the Currency—without obtaining prior customer assent—when the OCC was investigating the bank (the investigation ultimately led to a $24 million fine). [read post]
29 May 2013, 9:30 pm
According to this oversight report, SBLF failed to increase small business lending due to a “lack of effective communication” and coordination between Treasury and the federal banking regulators—the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC). [read post]
8 Dec 2021, 10:05 am
Citing past relationships with the Office of the Comptroller of Currency and preemption of state laws that he pointed to as the reason for the subprime lending crisis, Chopra promised a different approach from his CFPB. [read post]
28 Feb 2017, 7:03 am
” If federal financial institution regulators – including the Federal Reserve, Office of the Comptroller of the Currency (OCC), and National Credit Union Administration (NCUA), as well as the FDIC – issued specific, concrete guidance stating in more detail that small-dollar lending would not inherently trigger undue fair lending scrutiny, and discussing concrete ways that such loans could be made while meeting compliance and safety and soundness expectations,… [read post]
7 Sep 2010, 7:46 pm
The agencies sent separate replies to the ABA, ranging in tone from indignant (Federal Deposit Insurance Corp.) to understanding (Office of the Comptroller of the Currency) to perfunctory (Federal Reserve Board). [read post]
5 May 2016, 8:25 am
——————– If you have any questions regarding this Liskow & Lewis alert, please contact: Nina Bianchi Skinner Shareholder nbskinner@liskow.com 713-651-2813 —————————————————————————————————————— [1] The U.S. prudential banking… [read post]
8 Nov 2022, 9:02 pm
” But the court sidestepped the question of exactly when an agency’s funding would otherwise be constitutional, creating the possibility that other agencies such as the Federal Reserve and the Office of the Comptroller of the Currency will “face Appropriations Clause challenges to actions they take,” note Kaplinsky, Gordon, and Culhane. [read post]
16 May 2011, 2:29 am
Sommerfield Jo Ann Barefoot, former Deputy Comptroller of the Currency, is Co-Chair of Treliant Risk Advisors in Washington, D.C. [read post]
12 Apr 2010, 6:40 am
" But Krugman also notes that the federal government's -- specifically, the Office of the Comptroller of the Currency's -- preemption of state laws against predatory lending exacerbated the crisis in Georgia, where banks tumbled over each other making risky loans to homeowners using their homes as piggy banks. [read post]
14 Apr 2011, 8:16 am
The “prudential regulators” – the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Farm Credit Administration and Federal Housing Finance Authority – are required jointly to adopt these rules for the banks and related swap entities and security-based swap entities under their jurisdiction (generically, “bank swap entities”), and the CFTC and SEC are required to adopt these rules for other swap… [read post]
25 Sep 2014, 2:34 pm
Like CFPB, prudential regulators such as the Federal Deposit Insurance Corporation, the Federal Reserve, the Office of the Comptroller of the Currency (“OCC”) and the National Credit Union Administration also collect consumer financial data, including mortgage data, loan origination dates, and outstanding balances from commercial aggregators similar to those used by CFPB. [read post]
12 Jun 2007, 1:26 am
Barney Frank and Edward Markey (PDF 141 KB) Letter requests information regarding the practice of accepting and processing unsigned or "remotely created" checks; letter was also sent to the FDIC, Office of Thrift Supervision, National Credit Union Administration and the Comptroller of the Currency 06/11/2007
Letter to Sens. [read post]
25 Nov 2021, 9:03 pm
” The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a final rule requiring banks to notify regulators about computer-security incidents, such as a violation of “security procedures. [read post]
26 May 2009, 6:26 am
The May 6th Joint Statement issued by Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair and Comptroller of the Currency John Dugan outlined several conditions to the repayment of TARP funds: • "Supervisors will carefully weigh an institution's desire to redeem outstanding CPP preferred stock against the contribution of Treasury capital to the institution's overall… [read post]
29 Apr 2014, 7:00 pm
Sundquist 13-852Issue: Whether a state can restrict a national bank’s exercise of its fiduciary powers in connection with real property in that state if the bank is authorized to act as a fiduciary by the Comptroller of the Currency and not prohibited from doing so by the (different) state in which the bank is “located” under 12 U.S.C. [read post]
10 Feb 2022, 11:54 am
Within hours of the release of Judge White’s decisions, Acting Comptroller of the Currency Hsu issued the following warning about abuses of the OCC’s Madden-fix rule: Today, the district court affirmed the validity of the OCC’s rule, which provides that when a national bank or state or federal savings association sells, assigns, or otherwise transfers a loan, the interest permissible before the transfer continues to be permissible after the transfer. [read post]
27 Jul 2008, 7:29 am
In May, the Comptroller of the Currency Administrator of National Banks (Treasury Department) issued a warning on this subject. [read post]
