On December 14, 2021, the U.S. Office of the Comptroller of Currency (“OCC”) adopted a new final rule (“Final Rule”) under the Community Reinvestment Act of 1977, as amended (the “CRA”) which will be effective on...more
On July 20, 2021, the Board of Governors of the Federal Reserve System (the “FRB”), the Federal Deposit Insurance Corporation (the “FDIC”), and Office of the Comptroller of the Currency (“OCC”, and collectively with the FRB...more
Readers will recall that in our previous articles concerning the latest developments in money transmittal laws, we noted state regulators’ increasing tendency to enforce their state money transmittal laws on out-of-state...more
The Office of the Comptroller of the Currency (“the OCC”) has issued a Notice of Proposed Rule Making (NPR) to revise and reorganize its regulations relating to the activities and operations of national banks and Federal...more
This QuickStudy is intended to supplement our previous QuickStudy, published on June 17, 2019, regarding the election to be treated as a “covered savings association.” On July 1st, the OCC issued Bulletin 2019-31 (the...more
On May 24th the Office of the Comptroller of the Currency issued its final regulation (“final regulation”) implementing the provisions of the newly created section 5A of the Home Owners’ Loan Act. This new section 5A allows...more
On December 19th, the Office of the Comptroller of the Currency issued a final rule regarding how it will address receiverships of special purpose national banks which do not have deposits insured by the Federal Deposit...more
On December 2nd at the Georgetown University Law Center Comptroller of the Currency Thomas J. Curry announced that the OCC had made the determination to consider applications for special purpose national bank charters filed...more
Within the last two weeks, the Office of the Comptroller of the Currency issued two bulletins directly related to enforcement matters. OCC Bulletin 2016-5, detailing the OCC’s revisions to its Policies and Procedures Manual...more
On May 18, 2015, the Office of the Comptroller of the Currency (OCC) released a final rule to integrate the policies and procedures for corporate activities and transactions of national banks and Federal savings associations....more
On January 13, 2015, the Office of the Comptroller of the Currency (OCC) released a paper strongly encouraging community banks to consider ways in which they can collaborate to reduce costs, promote expertise, and enhance...more